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Friday, February 24, 2006

Progress

Here is the compromise solution that broke the budget impasse:

The Legislature will cut taxes in Utah by $160 million dollars this year. We'll cut $70 million from income taxes, cut another $70 million through a significant reduction in the sales tax on unprepared food, and cut $20 million from business taxes as a series of economic development incentives.

We will also allocate an additional $20 million to education funding, $8 million for water development, $90 million for transportation needs, and an additional $22 million for our committee priorities (bringing the total money for committee priorities to $78 million).

Read the press release.

All the above deals with ONGOING MONEY. A substantial amount of one-time money remains to be allocated.

Have a great weekend.

4 Comments:

Anonymous Anonymous said...

This post has been removed by a blog administrator.

2/24/2006 8:53 PM  
Blogger Daniel said...

Is there an analysis yet on the two competing tax cut proposals (SB 242 and HB 323 according to the SL Tribune)? What I'm looking for is an analysis of how these tax proposals would affect individual tax payers, based on their income.

2/25/2006 9:46 AM  
Blogger Nephi said...

Here's an idea. Going to Iraq was such a popular cause in Utah a few years back (remember, we were going to be greeted as liberators?), let's show the country just how true we patriots here in Utah are and send the surplus to Washington to be used in Iraq. That would end the debate once and for all!

2/25/2006 7:36 PM  
Blogger The Senate Site said...

The first comment on this blog posting was deleted.

The comment had nothing to do with the budget or any other policy discussion. It was a one-sentence personal disparagement of one of our senators, with no reference to any policy discussion or a particular opinion the senator may hold. (Not that we don't merit a little disparagement from time to time.)

This comment seemed to cross the line.

If "Anonymous" would like to rephrase his or her opinion, we'd appreciate it.

2/27/2006 10:08 AM  

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