On November 27, 2017 Lane Beattie, president and CEO of the Salt Lake Chamber, testified at the Revenue and Taxation Interim Committee to share the business community’s perspective on efforts to modernize Utah’s tax code. Generally speaking, the Chamber has always supported tax policies that strengthen Utah’s economy and properly balances tax simplicity, efficiency, fairness, revenue sufficiency and transparency.
When you take the time to consider the fact that Utah hasn’t undergone comprehensive tax reform since the 1980’s, it’s easy to see that tax modernization is the natural extension of the Chamber’s past efforts and overarching goals. Beattie explained that Utah’s economy has changed drastically over the decades, and it’s time for the tax code to catch up.
Utah’s tax code is the means by which we ensure that our state can meet current and future needs in a equitable and efficient manner. It also impacts the state’s economic development potential and our state’s overall competitiveness. Every business, neighborhood, and taxpayer is impacted by the tax system – which means we all have a stake in seeing that it is adapted and updated to meet modern day demands.
“Now is the time to act on meaningful tax reform,” said Beattie. “Modernizing Utah’s tax code to keep up with the new economy will be the Salt Lake Chamber’s top priority for the legislative session.” With this declaration, the business community can fully expect the Chamber to advocate for a modern tax code. Over the next several weeks, the Chamber will be unveiling an advocacy strategy to engage our members and educate the legislature on the need to act this session on this critical issue.
Read the current working version of the tax modernization bill here: https://le.utah.gov/Interim/2017/pdf/00005127.pdf