Government Spending

Utah Foundation’s Top Ten Research Findings from 2015

Written by: Dan Bammes

The Utah Foundation Board of Trustees sets the research agenda at the beginning of each year, and responds with guidance and adjustments as the year goes along. At the end of the year, board members also look back at the Foundation’s work and evaluate the relative impact our research reports have had on the community and policy makers. We recently asked them to evaluate our efforts in 2015, with members voting on the significance of … Continued

Legislature Looks at Property Taxes for Water Systems

Written by: Dan Bammes

Utah Foundation President Steve Kroes speaking to the Utah Legislature’s Revenue and Taxation Interim Committee June 17, 2015   The Utah Foundation research report Flowing Toward 2050: Utah’s Water Outlook recommended that Utah policymakers “re-examine the role of property tax funding for water agencies, with a goal of reducing tax support and increasing water rates,” as well as creating “more significant price gradations in block-rate water plans.” The Utah Legislature’s Revenue and Taxation Interim Committee … Continued

Turning Education Funding Around

Written by: Dan Bammes

Governor Gary R. Herbert was asked about the recent Utah Foundation report on growth in Utah’s public school population during his monthly news conference at KUED on Thursday, May 14th. The report Reaching Toward 2050: Education in the Midst of Population Growth urges the creation of a long-term, statewide plan for Utah’s public schools and includes an explanation of how past policy changes have limited the funding base for the expected growth of Utah’s K-12 … Continued

Utah’s Health Care Conversation Moves Ahead

Written by: Dan Bammes

Those who attended Utah Foundation’s Across the Spectrum event on April 2nd got a different kind of legislative wrapup, including a discussion of the most important thing the legislature didn’t do – act on Governor Gary Herbert’s proposal to provide health care to Utahns who don’t qualify for Medicaid or for subsidies under the Affordable Care Act. Healthy Utah was passed in the Utah Senate, but had so little support among Republicans in the House … Continued

Tax Burden as a result of HB362 and SB97

Written by: Shawn Teigen

How will the 2015 Utah Legislature’s increases on gas and property taxes affect Utahns? It may bump our respective state and local tax burdens ranking up just a bit. While in 2012 Utah saw the lowest tax burden that we have in at least 20 years, a new analysis by Utah Foundation’s Christopher Collard shows that downward trend may stabilize or reverse by 2016 and 2017. This table is simply an estimate. The 2016 data … Continued

Public schools shoulder the burden of tax cuts

Written by: Stephen Hershey Kroes

For many years, Utah Foundation has written about the decline in Utah’s investment in K-12 education. In the 1990s, it was common to hear about Utah’s “education paradox” – a term Utah Foundation coined to describe how a very high funding effort could yield a small amount per pupil. In 1995, for example, the proportion of income that Utahns paid for public schools ranked seventh highest in the nation, yet per-pupil funding was last in … Continued

Utah’s Economy: Growing Fast, Leaving Some Behind

Written by: Dan Bammes

Utah Foundation President Steve Kroes appeared on a panel at the presentation of this year’s Economic Report to Governor with economist Carrie Mayne from the Utah Department of Workforce Services Each year, the Bureau of Economic and Business Research at the University of Utah publishes an Economic Report to the Governor. The 2015 report was presented on Friday, January 9th to a breakfast meeting of business, state and community leaders at the Marriott City Center … Continued

Utah Aims Low on Revenue Projections

Written by: Christopher Collard

The governor recently announced an additional $638 million in revenues for the coming fiscal year. This total is made up of 2014 and 2015 revenue growth above projections and some funds that were not used in previous years. Some attribute the surplus to a spike in economic growth. While Utah’s economy is outperforming the rest of the nation there might other factors behind the surplus. To begin with, whether Utah brings in revenue above predictions … Continued

Does Utah have a debt problem?

Written by: Stephen Hershey Kroes

Utah has a debt problem. But Utah needs to build some vital projects. Both perspectives were presented at our Bacon, Biscuits and Bonds breakfast event at the Capitol today. We learned some very interesting facts and heard some great arguments for several proposals. Here are a few notes: Treasurer Richard Ellis urged lawmakers to slow down in requesting new bond-funded projects. Utah’s debt levels have risen dramatically since 2009, with debt now around $1,000 per … Continued

Utah Financial Forecasting and Planning: Overcoming Volatility

Written by: Christopher Collard

Utah was recently recognized in a Pew Charitable Trusts report for exemplary budgeting practices. Namely, Utah does a good job at forecasting tax revenue and dealing with revenue volatility. A key difficulty in the budgeting process lies in forecasting tax revenue: Business cycles are unpredictable and have a large effect on the amount of money the state collects through taxes. Recessions decrease revenue from sales tax and income tax. Swings in specific industries can have … Continued