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It’s a terrific problem to have: what to do with a billion dollar surplus in state revenue?
Some lawmakers, mainly members of the House of Representatives, say give a lot of it back to the people. The surplus shows state government is growing too rapidly, they proclaim. Huge tax breaks are in order! It’s an election year, after all.
Others, mainly the Governor and members of the Senate, are more prudent. While they, too, speak of tax cuts, their approach appears more modest. They see an opportunity to invest most of the money in Utah’s future: in education, in transportation, in economic development.
KSL prefers the later approach!
Certainly, a responsible tax break is in order. As we’ve said before, KSL likes the idea of taking steps to eliminate the sales tax on food. No better time to do it! It’s unconscionable that Utah is one of only a few states to tax unprepared foodstuffs.
Beyond that, though, most of the surplus should be strategically directed toward programs that will, like any good investment, offer perpetuating returns.
Education is an excellent investment. With the growth that’s occurring, transportation is a must. And an infusion in economic development will pay dividends down the road.
Lawmakers must not squander this rare opportunity to do something truly significant.
