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Senate concurs with House amendment to income‑tax measure, adjusts brackets and top rate
Summary
The Utah Senate on Sept. 19 approved concurrence with a House amendment to the income‑tax bill that slightly lowered the top marginal rate and adjusted bracket thresholds; fiscal-year 2008 cost estimates rose modestly to about $78 million.
The Utah Senate on Sept. 19 concurred with House amendments to the income‑tax measure that adjust the bracket thresholds and reduce the top marginal rate to 6.98 percent.
Senator Bramble summarized the House changes: the bracket thresholds for married filing jointly were adjusted to $2,000, $4,000, $6,000, $8,000 and $11,000 and the top rate was reduced from 7 percent to 6.98 percent; the revised fiscal note increased projected fiscal‑year 2008 cost from about $76 million to approximately $78 million. Bramble said the changes were modest and recommended concurrence pending the final fiscal analyst review.
Debate included cautionary comments about whether bracket changes would alter incentives to shift to a flat tax and requests for finalized fiscal notes. Some senators raised broader concerns about using sales‑tax headroom and urged a more comprehensive approach to transportation and long‑term budgeting, but leadership argued the mix of measures in the session represents achievable tax reform and transportation funding steps.
The Senate recorded concurrence with the House amendments and later completed final passage of the amended income‑tax bill; leadership then moved to adjourn sine die. The amended tax measure was transmitted for the required signatures.
