SALT LAKE CITY, UT (March 7, 2018)— Today, the Salt Lake Chamber Executive Board voted to support a comprehensive package designed to increase investment in education funding by roughly $600 million by 2023.
“The Salt Lake Chamber has been an ardent supporter of greater investment in Utah’s education system, modernizing our tax code and ensuring our infrastructure is equipped to handle our robust population growth, this solution addresses all three,” said Lane Beattie, president and CEO of the Salt Lake Chamber. “Our support of the Our Schools Now initiative has always come with the hope that a legislative solution could be reached. We are thrilled with the efforts of dozens of stakeholders to find a compromise and now urge members of the legislature to support this comprehensive package.”
This compromise includes H.B. 293, which would freeze and index the basic levy property tax, provide increase guarantees and equalize property tax funding to encourage local districts to use their existing property tax authority; H.J.R. 20 and H.B. 491, which would place a $0.10 per-gallon gas tax increase on the ballot for approval this fall; and H.B. 355, which would utilize the increased revenue from the federal tax reform to reduce the personal income tax and corporate tax rates to 4.95 percent—modernizing Utah’s corporate tax code and making our state more competitive.
Salt Lake Chamber