HB0054S04 | Tax Revisions

Description
General Description: 

This bill modifies state tax provisions.

Highlighted Provisions: 

Reduce the income tax rate of individuals and corporations from 4.85% to 4.80%

Bill Details
Year: 
2023
Status: 
Governor Signed
Last Action: 
Mar 22, 2023
Sponsor
Representative
Republican - District 43
Fiscal Note
Fiscal Note Amount: 
$0
None
Utah PTA Response
Utah PTA Position
Pending

Reducing the income tax rates to individuals and corporations is both myopic and unconscionable when the State of Utah considers its obligation to its children, vulnerable segments of the population and other programs in need of funds that will provide for a good future for Utahns. A tax cut is akin to indulging in discretionary expenses to the detriment of investing in Utah's future.

Utah PTA Resolution: 
Impact on Children: 

This bill will reduce the amount of funding flow to Public Education and reduce the ability to provide high quality public education which benefits all citizens of Utah. 

Commission: 
Education
Utah PTA Public Policy Program
National PTA and Utah PTA Resolutions: 

Resolved, That Utah PTA and its constituent associations continue to urge the legislature to make public education revenue allocations and funding effort a high priority; and, be it further

Resolved, That Utah PTA and its constituent associations encourage the legislature to adequately fund critical educational needs, including but not limited to, class size reduction, teacher salaries, technology, programs, supplies, and evidenced-based practices that have an impact on student achievement; and, be it further

Resolved, That Utah PTA and its constituent associations support the maintenance of a stable and adequate funding mechanism to support public education based on the following principles: enrollment growth; inflation; support of a K-12 education Economic Stabilization Restricted Account; funding the USBE Strategic Plan; and, be it further

Resolved, That Utah PTA and its constituent associations oppose funding mechanisms such as vouchers, tax credits, deductions; and, be it further

Resolved, That Utah PTA and its constituent associations will always oppose funding methods that divert funds away from public education system if the accountability methods are not equal to or greater than those of public education system; and, be it further

Resolved, That Utah PTA and its constituent associations and its constituent associations oppose the dilution of the constitutional mandate to fully fund public education and oppose income tax cuts and credits that directly reduce the amount allocated to public education funding.

Utah PTA Legislative Priorities: 

EDUCATION FUNDING. Support an adequately funded public school system by: supporting a 6.5% WPU increase over and above growth and inflation to be used for purposes such as recruiting, supporting, and retaining teachers