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Utah State budget Earmarks, Debt and Transportation

Utah State budget Earmarks, Debt and Transportation. Presentation by Natalie Gochnour Associate Dean, University of Utah Chief Economist, Salt Lake Chamber February 3, 2014. Utah Job Count. Source: Utah Department of Workforce Services. Utah Earmarked Sales Tax Revenue.

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Utah State budget Earmarks, Debt and Transportation

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  1. Utah State budgetEarmarks, Debt and Transportation Presentation by Natalie Gochnour Associate Dean, University of Utah Chief Economist, Salt Lake Chamber February 3, 2014

  2. Utah Job Count Source: Utah Department of Workforce Services

  3. Source: Utah Legislative Fiscal Analyst, 12/17/2013

  4. Utah Earmarked Sales Tax Revenue Source: Governor’s Office of Management and Budget

  5. Utah Net General ObligationDebt per Capita Source: 2013 Comprehensive Annual Financial Report, Utah Division of Finance, Oct. 23, 2013, p. 228-229

  6. Utah Outstanding General Obligation Debt Source: Governor’s Office of Management and Budget

  7. Utah’s Debt Service Ratio Compared to Other Moody’s AAA-Rated States Source: Utah Legislative Fiscal Analyst, 12/17/2013

  8. Five-Year Budget PositionFY13-FY17 Source: Utah Legislative Fiscal Analyst, 12/17/2013

  9. Transportation Investment Fund Expenditures FY14 Source: Utah Legislative Fiscal Analyst, 12/17/2013

  10. Borrowing for Projected OutflowsEstimated Outstanding Debt & Constitutional Debt Limits Source: Utah Legislative Fiscal Analyst, 12/17/2013

  11. Benefits Principle of Taxation • Those who benefit the most from the transportation network should pay the most for its continued operation. • Efficient – matches supply with the demand • Curb overuse • Reduce wear and tear • Reduce traffic congestion • Combat air pollution • Ex. Someone driving 40 miles to work each day should pay more for roads than somebody who works from home.

  12. Share of State & Local Road SpendingCovered by User Fees U.S. Average and Bottom Ten States: 2011 Utah ranks 46th lowest For user fee contribution Source: Tax Foundation and American Petroleum Institute

  13. Motor Fuel Tax Comparisons As of January 2013 Source: Tax Foundation and American Petroleum Institute

  14. Average Fuel Efficiency Source: US DOT, Summary of Fuel Economy Performance

  15. Buying Power Buying power of motor fuel tax has declined 45% since 1997. The 24.5 cents is now equivalent to 16.9 cents in inflation-adjusted terms. (Adjusted using CPI-U) Source: Salt Lake Chamber calculations

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