A booming Utah economy has produced more than $1 billion in surplus revenues for policymakers to spend next year, and Gov. Gary Herbert would like a chunk of that cash handed back to the taxpayers.
Herbert released his budget recommendations on Thursday, which prioritize public education while leaving roughly $200 million unspent as a suggested sales tax cut, part of a broader tax reform package pushed by the governor.
“If we lower the [tax] rate and broaden the base, everyone will pay less taxes,” Herbert said. “It’s win-win-win all the way around.”
In recent years, Herbert and legislative leaders have argued for a restructuring of Utah’s tax code to better position the state in an increasingly service-driven economy.