Utah Gov. Spencer Cox unveiled his $28.4 billion budget proposal last week, which includes a call for $1 billion in tax relief primarily through one-time cuts in property tax and income rebates.
Then, on Tuesday, the Utah Legislative Executive Appropriations Committee agreed to set aside $545 million for ongoing tax cuts. They approved $400 million in future cuts while extending a basic school levy freeze, valued at $145 million.
That might just be the beginning heading into the 2023 legislative session, which starts Jan. 17. Rep. Steve Eliason, R-Sandy, who was recently again appointed to be the chairman of the Utah House Revenue and Taxation Committee, said taxes are certainly one of the key topics among the discussions happening at the Utah Capitol ahead of the coming session, especially after Utah reported another major budget surplus.