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Senate hears bleak revenue update; Hilliard cites stimulus timing, withholding delays and rate cuts
Summary
Senator Hilliard told the Utah Senate that consensus revenue estimates are lower than earlier projections, pointing to three external factors and a packet of figures committee staff circulated; senators were given about two and a half weeks to reconcile budgets. (Packet showed a one‑time figure of $342,000,000 and ongoing of $271,000,000.)
Senator Hilliard told the Utah Senate on Feb. 15 that the state’s consensus revenue picture has slipped since the session began and that committees will have limited time to reconcile priorities.
“Three things played factors,” Hilliard said, naming the federal stimulus package’s timing, problems with the State Tax Commission’s withholding schedules that delayed some collections, and recent interest‑rate cuts. He asked senators to consult the packet staff…
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