March 2021 Archive
What Does the American Rescue Plan Act Mean for Utah?
On March 11th, Congress enacted the American Rescue Plan Act (ARPA) of 2021, the third (and likely final) round of stimulus funding related to the COVID-19 pandemic. Of the total $1.9 trillion in Federal aid, the Office of the Legislative Fiscal Analyst (LFA) estimates that over $8.3 billion will make its way to Utah in […]
Revenue On-Pace through Month Eight
The Utah State Tax Commission released updated revenue collection data today. For the first eight months of fiscal year 2021, General and Education Fund revenue is slightly below our latest point projections, but well within range to hit our target at year-end. Sales tax continues to be stronger than anticipated. Income tax is almost exactly […]
It’s a Wrap! The 2021 General Session Comes to a Close
The Utah Legislature adjourned on the 45th day of a General Session which was groundbreaking in many ways. Utah’s $23.5 billion budget for Fiscal Year 2022 includes $10 billion in spending from the General and Education funds, and nearly $7 billion from Federal funds. During a pandemic, the Utah legislature was able to fund very […]