Browsing: Utah

Ogden, UT – Utah’s Republican-controlled Legislature is gearing up for its fifth consecutive year of tax cuts, with Governor Spencer Cox proposing a reduction that targets Social Security benefits. As part of his budget recommendation, Cox has put forward a plan to eliminate the state’s tax on Social Security income, a measure that would cost the state approximately $143.8 million annually. Currently, Utah households earning less than $75,000 are eligible for a Social Security tax credit. However, under Cox’s proposal, about 150,000 additional taxpayers would benefit, with the average filer saving approximately $950 per year. The governor has positioned the…

Ogden, UT – As Utah’s 2025 legislative session approaches, the question of whether the state will eliminate its tax on Social Security benefits remains unanswered, though signs point toward strong momentum behind the proposal. Governor Spencer Cox has made the elimination of this tax a central focus of his $30.6 billion budget, arguing that it is an embarrassment that Utah remains one of only eight states that still taxes Social Security income. Last month, legislative leaders from both the Senate and House, who serve on the Executive Appropriations Committee, set aside a total of $231 million for a possible tax…