Days after warning of drooping tax collections and a slump in state revenues, legislative leaders announced Friday that Utah maintains a $1 billion surplus going into the final weeks of the 2019 session.
The pool of money available for state spending decreased by roughly $120 million compared to December estimates, which Rep. Brad Last, R-Hurricane, described as a “hiccup” related to recent federal tax changes as the state’s economy continues to perform.
“The revenue is actually better than we had anticipated,” Last said, later adding that 2019 “is the best year that we’ve had since the Great Recession.