The keystone element of Utah Gov. Spencer Cox's budget proposal is a plan to eliminate the state income tax on Social Security benefits.
At $30.6 billion, it’s the state’s biggest-ever proposed spending plan, and includes a tax break for senior citizens and millions more for education and energy development.How? By eliminating the state’s tax on Social Security.
“What we’re really seeing is a normalization of growth in our state,” Cox told The Salt Lake Tribune’s editorial board Wednesday afternoon. His budget also designates $18.8 million toward a “homelessness alleviation effort,” which includes funding a second family shelter in Salt Lake County and a statewide emergency shelter. It’s much less than the $128 million he proposed in his fiscal 2025 plan for emergency shelters. Cox noted the state steered $216.7 million toward tackling homelessness in the current budget, and those investments are still bearing fruit.
“Here in Utah, we value strong families,” Lt. Gov. Deidre Henderson said. “Our administration for the past four years has worked really hard to make sure that we are helping to strengthen Utah families. This coming budget year, we are hoping to continue that trend.”As proposed, “Operation Gigawatt” would commit $20.4 million to help “lay the groundwork” for nuclear power generation — figuring out where Utah could operate nuclear plants and developing the infrastructure to bring them on line.
Gov. Spencer Cox answers questions after unveiling the budget recommendations and priorities for 2026 at the William E. Christoffersen Salt Lake Veterans Home on Thursday, Dec. 5, 2024.The budget includes nearly $300 million targeted at combined investments in public education and career development.
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