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Utah lawmakers: state has $1.3 billion surplus

KSL File Photo

SALT LAKE CITY — Utah’s growing economy has led to a projected big surplus in state revenue.

Utah lawmakers say they’ll have more than $1.3 billion dollars in surplus money next year.

It’s $675 million in new ongoing funding, as well as $646 million in new one-time funding.

Advocates say this is an opportunity to make a difference.

“We completely agree with the governor and with leadership, that this is not an opportunity to grow government. This is an opportunity to pay off state bonding debt, pay cash for new buildings if need be, and most importantly, to give taxpayers the relief they deserve,” said Utah Taxpayers Association Vice-President Rusty Cannon.

He added he would like to see tax cuts to the tune of 300 to 400 million dollars.

“It is apparent there’s no reason to raise Utah’s taxes. We need lawmakers to spend the money we have wisely,” said Heather Williamson, the state director for Americans for Prosperity.

Right now, state economists project most of the money will go into the education fund.