Senate Bill 59 sponsor Rep. Casey Snider, R-Paradise, speaks about the income tax rate cut bill in the House of Representatives at the Capitol in Salt Lake City on Wednesday, Feb. 9, 2022.
SALT LAKE CITY — The Utah Senate unanimously passed a bill Thursday, giving Utahns a tax cut.
People in the state could see $193 million back in taxes.
The tax bill includes a .1% income rate reduction. That takes it from 4.95% to 4.85%. It also includes an earned income tax credit and expands a social security tax cut.
The bill had already been approved by Utah’s House.
Governor Spencer Cox’s office told KSL Newsradio he’s excited to sign this bill into law.
“As a freshman legislator nine years ago, I supported an earned income tax credit to benefit low- and moderate-income Utahns. Every year since I have worked to get the EITC signed into law. I could not be more excited to finally get this piece of legislation across the finish line,” Governor Cox said. “(And) I also look forward to signing into law income tax cuts for all Utahns in addition to expanded Social Security tax cuts for Utah’s most vulnerable seniors. I applaud the Legislature on their efforts in arriving at this bipartisan and balanced outcome.”
The Governor called the cuts a “tremendous win” for Utah families and seniors.
“All together, these tax cuts will return hard-earned money to Utah families and alleviate current inflationary pressures. These tax cuts are a tremendous win for Utah families and seniors, and I look forward to signing this bill into law.”
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