Tax cuts are anticipated to be a primary focus for Governor Kevin Stitt and the Republican-controlled Legislature when the 2023 session convenes on Monday, with state savings accounts and revenue collections at all-time highs.
At noon, during a joint legislative session, Stitt, who handily won reelection in November, will provide lawmakers with his executive budget proposal and give his sixth State of the State address.
Last year, the governor requested the House and Senate to send him bills that would have eliminated the state’s grocery sales tax and lowered the rates for both individual and corporate income taxes, but none of those ideas were adopted. All of those are anticipated to come up again during this year’s budget discussions.
Following the Federal Reserve’s adoption