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Senate Minority Leader Karen Mayne Introduces Counterproposal to the Tax Restructuring and Equalization Task Force

October 22, 2019

 

 

 

 

 

 

 

 

 

 

 

 

 

For Immediate Release:

October 22, 2019

 

Senate Minority Leader Karen Mayne Introduces Counterproposal

to the Tax Restructuring and Equalization Task Force

 

SALT LAKE CITY – Senate Minority Leader Karen Mayne (D-West Valley City) has unveiled a tax reform counterproposal to the plan released by the Tax Restructuring and Equalization Task Force chairs. “We appreciate the work that task force chairs have done. Our proposal builds on their work with key changes to prevent shifting the tax burden from the wealthy to working families and the middle class,” said Senator Mayne. “Just like your household budget, the budget of our state reflects our values. This proposal says we value educating our children, lifting up working families, taking care of seniors, and asking those who can afford a bit more to help out a bit more.”

 

The proposal is the result of conversations and input from the other Senate Democrats as well as feedback Senator Mayne received traveling the state over the last several months as a member of the task force.

Key Elements:

  • Protects the education fund by strengthening the requirements for funding education and maintaining the constitutional protections put in place by the people of this state

  • Holds the Legislature accountable for funding education growth and the school lunch program even during times of recession

  • Restores a fair income tax structure that protects working families and low-income individuals while asking those who earn more to contribute a bit more while keeping all marginal income tax rates below 2007 levels

  • Introduces an income tax credit for certain Social Security income

  • Eliminates the tax on feminine hygiene products

  • Introduces a state Earned Income Tax credit to help working families climb out and stay out of poverty

  • Asks tourists to our state to pay their fair share in addressing the impacts of their visits

  • Protects vulnerable populations from certain sales tax increases in other proposals

 

Budgetary Impact:

 

  • Results in an overall net revenue increase of approximately $200 million, primarily for education.

  • A family of four making $60,000 per year would see an estimated average total tax decrease of more than $110 a year.

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