From Deseret News archives:
Utah GOP leaders push tax cut plans
$115 million slash may be spread across board
- Page:
- < Previous
- 1
- 2
- 3
- Next >
Harper gives these key details on the new plans:
A flat-rate system, in which 5.3 percent would be levied against a filer's federal adjusted gross income. To keep the wealthiest individuals from getting most of the tax breaks, lower-income individuals and families could take personal exemptions that phase out as income levels rise. There would be no deductions, however, for mortgage interest or charitable giving.
"We believe about 25 percent of taxpayers would benefit under that plan, and so would move to the flat-rate system," said Harper.
Or, taxpayers could choose to stay in the current, graduated income-tax system. That group would still get to deduct mortgage interest, charitable giving and other exemptions that they have now.
The governor likes a variation that would drop the current top rate from 7 percent to 6.9 percent so that all who stay with the current system would get a small tax cut.
The Harper/Dougall plan keeps the 5.3 percent flat rate but would also give flat-tax filers a $250 credit for individuals, and a $500 credit for married filers. That drops a "significant number" of low-income filers under that option, as well.
Huntsman's reform package would be, overall, a $74 million tax cut.
Harper said the GOP House modified plan could give tax cuts up to $115 million and so is preferable.
Mower said Huntsman crafted his new plan to meet the already-approved $70 million income-tax cut. But considering growing state tax revenues, "the governor is open to the $115 million reduction" or some other amount, Mower added.
In the 2006 Legislature, the House and Senate agreed to give $160 million in tax relief $70 million through reducing the state sales tax on food, $70 million in income-tax relief and $20 million in business-tax cuts.
But while the food tax and business taxes were reduced, on the last night of the session the House wouldn't go along with Huntsman's flat-rate income tax reform. The $70 million earmarked for that was put aside, but not actually given.
- Page:
- < Previous
- 1
- 2
- 3
- Next >
Comments
- College football: Big-5 glance 12:34 a.m.
- Sports on the air 12:14 a.m.
- Missions teach players perseverance 12:08 a.m.
- Scout answer to church's prayers 12:08 a.m.
- Project helps Guatemalan kids 12:07 a.m.
- No expiration date on gratitude 12:07 a.m.
- Nursery Rhymes' gratitude 12:07 a.m.
- Temple Square to use LEDs 12:06 a.m.
- Mormon mom helps hungry children 12:05 a.m.
- The gospel in words: 'Feast' 12:05 a.m.
- Cave rescuers committed to free man
- Howard made the rivalry a rivalry
- Donny and Kym dance to victory
- Cougars cruise past Southern
- Twitterati to BCS: 'We hate you.'
- Loyal to Cougarettes, Crimson Line
- Y. focused on 10-win season
- BYU has slim shot at BCS
- Thunder rolls by Jazz
- Witness describes '99 killing
- BYU would like friendlier rivalry
259 - Glenn Beck to enter politics?
227 - Protests against Phoenix LDS temple
209 - RSL wins MLS Cup on penalty kicks
202 - Bronco, Kyle rubber match
139 - BYU records with win
133 - Letters: Rushing to judge Palin
129 - Thunder rolls by Jazz
110 - Boys basketball rankings
110 - Editorial: Poor welcome for Palin
103
I hope they get him out as soon as possible. What a horrible experience for...
Must not have been enough money in the deal. You could save the world, if...
The first time REAL comes into Home Depot in 2010 whether Chivas or Galaxy I...
I will say it again, in 40 years of following professional sports, this team...
Sloan Haters are Well Deserved! Yet another SLoanaholic (thankfully...
RE: SLDrone: No that was not the problem. He should have stayed in his...
Simply AWESOME young men!!! These guys will be very successful in their lives.
I thought Jazz Cop, that Okafor was the man,. I wanted him this off season...
I might have a spot for Miles as assistant trainer and CJ personal physician
that was accidental I left you off the list. I went by the intelligent,...




You can be the first to comment on this story.