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Senate substitutes bill to cut individual income tax; supporters and skeptics weigh education trade-offs
Summary
The Senate substituted and advanced a second-substitute H.B. 323 to reduce individual income tax rates, with supporters calling it a broad, fiscally responsible $100 million cut and opponents warning it would reduce the Uniform School Fund by roughly $100 million and divert funding from education and local governments.
The Utah Senate on Feb. 17 substituted and advanced a second-substitute version of House Bill 323, a proposal to reduce individual income tax rates statewide. Senators debated the scale and distributional effects of the cut and its effect on education funding.
Sen. Hatch moved to replace the original bill with a second substitute that raised the maximum rate in the substitute to about 6.72 percent. Hatch said the revised bill reduces the fiscal impact…
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