Utah Lawmakers Agree On Tax Cut Package

Utah Lawmakers Agree On Tax Cut Package

(Salt Lake City, UT) — Utah’s Republican leaders will push for a reduction in the state’s income tax rate as part of a bill that will also affect seniors, women and low-income Utahns. If approved, House Bill 54 will reduce the state income tax from four-point-eight-five to four-point-six-five percent. It will also expand the Social Security tax credit for seniors to 75-thousand dollars and create a double-dependent exemption for pregnant women. The Earned Income Credit for low-income Utahns would expand from 15 to 20-percent. The benefit to an average family of four is expected to be around 200 dollars.