How They Spend Your Money and Pay for the Laws You Must Live By – A Tax and Spending Update

As of March 2, 2017, the “Orange List,” a summary of proposed spending by the State of Utah for the next fiscal year provides information on what proposals will and will not be funded with updated budget numbers.

Taxpayers should know that the state is under self-imposed obligation to work with a balanced budget, utilizing a “rainy day fund” only for shortfalls but may be required for use for numerous reasons.

The Senate caucus has indicated that the long-anticipated tax reform package for this year, including increased sales tax on food, sales tax on non-food, property taxes and personal income taxes are all under review, likely not to be announced until the last week of the session, adjourning on Thursday, March 9 at midnight. Some provisions may also carry over into the “interim” period of monthly meetings during the remainder of the calendar year.

The “Orange List” shows a list of proposed budget items forwarded to the Executive Appropriations Committee during the 65th Legislature this past week:

Click here for the “Orange List”

Additional references may be accessed via COBI, Utah’s accounting “Compendium of Budget Information.”

 

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