The Utah Legislature has approved a $400 million tax cut package, more than half of which, $208 million, will go toward dropping Utah's income tax rate from 4.85% to 4.65%.
, the bill containing the entire tax reduction package. It now goes to Gov. Spencer Cox, who is expected to sign the bill.
Before the 2023 session started, lawmakers set aside $400 million in tax cuts for Utahns. Mid-session, after new revenue estimates showed flat projections , legislators kept the reduction at $400 million. If the constitutional amendment makes it to the November 2024 ballot and if voters approve it, state lawmakers will repeal the state portion of
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