Chamber supports proposal to support education, avoid tax increase
SALT LAKE CITY- (December 10, 2010) The business community congratulates Governor Gary R. Herbert for his leadership in proposing a prudent and pro-economy budget with no general tax increase. His recommendations, if adopted, will continue Utah’s nation-leading economic recovery and further position Utah as a great place to do business.
Of particular note to the business community are these specific recommendations:
No general tax increase
Utah’s economy is currently growing at nearly three times the national average, and yet we still have 102,400 unemployed Utahns. For this reason, the Utah economy remains fragile. The governor’s budget reflects current economic circumstances by keeping taxes at current levels.
Education
The governor correctly recognizes education as the key to enduring prosperity and has made it a priority in his budget proposal. The business community supports his decision to fund public education enrollment growth with $50 million in new funding.
We are also pleased that the governor is advancing the recommendations of his Education Excellence Commission, of which the Salt Lake Chamber was a part, including:
o Extended-day kindergarten ($7,500,000)
o Learning outcomes and the common core standards ($2,000,000)
o 3rd grade reading and 6th grade mathematics assessment and proficiency ($2,500,000)
o Assessment and career readiness training ($1,000,000)
We also support mission-based funding for Utah’s colleges and universities and the governor has indicated like support.
Transportation
The governor supports vital transportation funding as evidenced by the restoration of a portion (8.3 percent of gross taxable sales) of auto-related sales taxes for transportation projects. In FY2011, most of this funding was pulled to pay for other one-time needs. Transportation investment is vital to our economy, and the Salt Lake Chamber supports the restoration of this funding.
Of particular note to the business community are these specific recommendations:
No general tax increase
Utah’s economy is currently growing at nearly three times the national average, and yet we still have 102,400 unemployed Utahns. For this reason, the Utah economy remains fragile. The governor’s budget reflects current economic circumstances by keeping taxes at current levels.
Education
The governor correctly recognizes education as the key to enduring prosperity and has made it a priority in his budget proposal. The business community supports his decision to fund public education enrollment growth with $50 million in new funding.
We are also pleased that the governor is advancing the recommendations of his Education Excellence Commission, of which the Salt Lake Chamber was a part, including:
o Extended-day kindergarten ($7,500,000)
o Learning outcomes and the common core standards ($2,000,000)
o 3rd grade reading and 6th grade mathematics assessment and proficiency ($2,500,000)
o Assessment and career readiness training ($1,000,000)
We also support mission-based funding for Utah’s colleges and universities and the governor has indicated like support.
Transportation
The governor supports vital transportation funding as evidenced by the restoration of a portion (8.3 percent of gross taxable sales) of auto-related sales taxes for transportation projects. In FY2011, most of this funding was pulled to pay for other one-time needs. Transportation investment is vital to our economy, and the Salt Lake Chamber supports the restoration of this funding.
Economic Development
The Chamber recognizes the need to continue to enhance technology-based economic development. We support the governor’s proposal to maintain current funding levels for the Utah Science Technology and Research Initiative.
The Chamber recognizes the need to continue to enhance technology-based economic development. We support the governor’s proposal to maintain current funding levels for the Utah Science Technology and Research Initiative.
We continue to support efforts to increase international trade. Utah merchandise exports have doubled over the past five years and the figures continue to improve. The Chamber supports the governor’s recommendation to maintain funding for World Trade Center Utah.
As the economy continues to expand, tax revenues will continue to grow. The proposed extension of the Bush-era tax cuts and one-year reduction in payroll taxes will further stimulate growth nationally and in Utah. As state coffers replenish, we urge the governor and Legislature to appropriate additional monies for higher education.
About the Chamber
The Salt Lake Chamber is Utah’s largest statewide business association and Utah’s Business Leader. With roots that date back to 1887, the Chamber has been standing as the voice of business, supporting its members’ success and championing community prosperity for over 100 years. The Chamber represents 6,100 businesses statewide and one in every three jobs in the Utah economy. Chamber strategic partners include the Downtown Alliance and World Trade Center Utah.
The Salt Lake Chamber is Utah’s largest statewide business association and Utah’s Business Leader. With roots that date back to 1887, the Chamber has been standing as the voice of business, supporting its members’ success and championing community prosperity for over 100 years. The Chamber represents 6,100 businesses statewide and one in every three jobs in the Utah economy. Chamber strategic partners include the Downtown Alliance and World Trade Center Utah.
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