Play Live Radio
Next Up:
0:00 0:00
Available On Air Stations

Utah legislature passes state income tax cut. Bill now heads onto Gov. Cox

Several one-hundred dollar bills.
Pepi Stojanovski
Several one-hundred dollar bills.

A bill supporting a state income tax cut was voted unanimously by Senate Democrats and Republicans on Thursday. With the bill passing the Utah Legislature, it will now head onto Gov. Spencer Cox.

The proposed tax cut will lower the income tax rate from 4.95% to 4.85%. The bill will also include an earned income tax credit and a social security cut.

According to a statement made by Gov. Spencer Cox, he plans on signing the bill when it reaches him. Cox was open to an earned income tax credit but was ultimately pushing for a food tax credit that has so far been rejected by Utah lawmakers.

Gov. Cox applauded the Legislature for their efforts and for arriving at a balanced outcome. He believes that these tax cuts will help return hard-earned money to Utah families.

Jared Gereau is pursuing a Journalism major with an emphasis in Social Media at Utah State University. He is planning on using his experience to pursue a career with USU Athletics sometime after he graduates. In his free time, Jared enjoys watching movies, playing games and creating content for his YouTube channel.