Tax Reform Just Getting Started

None by KCPW

Simplicity on the Agenda for 2007

(KCPW News) The dual-track income tax system passed by lawmakers in special session earlier this week is not the final step in Governor Huntsman's tax reform efforts. But what the governor plans next depends on cash flow and surplus:

"If in fact there is something to invest in the system, then I think taking greater steps toward greater simplicity, more choice, maybe even a tax credit that would move more people over at the lower income ranges would be what I and perhaps some others would be interested in doing."

Huntsman signed Senate Bill 4001 yesterday, allowing Utahns the choice of filing their state income tax return under the existing tax rate, slightly adjusted and keeping deductions, or a new flat rate of 5.35 percent with no deductions. But that's a far cry from reducing income tax returns to the size of a postcard as proposed years back by Utah lawmakers. So increasing simplicity, the governor says, will be on his mind when lawmakers gather for the 2007 general session in January:

"When you have a flatter tax option you can in fact move toward greater simplicity and that is something that I know a lot of people feel very, very strongly about. The tax advisers who have advised governors in the past, the tax advisers who are currently advising us do believe that one of the guiding principles going forward must be simplicity, and I believe that will be a very important objective in the coming session."

To hear the entire Midday Metro interview with Governor Huntsman, click here.

Email to a friendPosted in KCPW Newsroom. Copyright 2008 KCPW