Three months after walking away from an urgent effort to expand taxes on service-oriented business, Utah lawmakers have changed their messaging — from an imminent fiscal cliff in sales tax receipts to a long-term, comprehensive economic strategy.
This shift coincides with new state revenue estimates showing roughly 5% and 7% growth in the sales and income taxes, respectively.
“We’ve got plenty of money to run on, we’re not trying to have a tax increase,” said Senate President Stuart Adams, R-Layton. “What we’re trying to do is shift some money around between the income tax and the sales tax in order to maintain the balance that needs.