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Thursday, February 09, 2006

Parallel Tax Reform Bills

BYU NewsNet report: Utah Legislators Propose Flatter Tax.

Russell Murdock writes:
Parallel income tax reform bills are making their way through both the House and the Senate.

Sen. Curtis Bramble, R-Provo, is sponsoring the Senate version of the bill that offers the same income tax-cut as does the House version.

"It's a flatter, simpler, income tax system. True tax reform," Bramble said.
While Bramble's bill is identical to the House bill in its effect on income tax, the bills differ in their approach to food sales tax. Bramble said he believes it would be economically unwise to remove sales tax on food, and that the real way to help the economy is through lowering the income tax rate.

"Ohio did something similar a few years ago [lowering the income tax rate]," Bramble said. "It helped stimulate economic development, leading to more, higher paying jobs. I believe this same economic development would occur in Utah."

To achieve this economic development, the proposed tax reform would lower the state income tax rate for Utah residents from 7 percent to 4.9 percent.

1 Comments:

Anonymous Anonymous said...

CHECK OUT http://askutahpols.blogspot.com

for some questions

2/09/2006 7:27 PM  

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