A strong educational system does more to boost a state’s economy than tax cuts, writes Matthew Weinstein, fiscal policy director at Voices for Utah Children.
Utah's individual income tax return form.In their recent commentary for The Salt Lake Tribune , Jared Walczak and Rusty Cannon made the case for cutting the state income tax rate yet again based on the rationale that otherwise Utah will lose job growth to other states .
Is Utah in a strong enough economic position to push back against the tax cut competition, or are we still so vulnerable that we have no choice in the matter? But in recent decades Utah’s economy has moved into a new gear. Our tech sector has taken off, producing thousands of high-skill/high-wage jobs. By 2020, Utah’s median hourly wage had risen to 29th in the nation, meaning that, in less than a generation, we have gone from a low-wage state to a middle-wage state.billions in tax cutting
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Revenue windfall pushes states to consider range of tax cutsSoaring tax revenue and billions in pandemic aid from the federal government have left many states with the unusual problem of having too much money.
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