Thanks to tax cuts from the “one, big, beautiful” law, Utah won’t collect about half a billion dollars of income tax revenue in coming years — about $300 million in 2026 and $200 million in 2027.

That’s according to Gov. Spencer Cox’s proposed budget unveiled Wednesday, which gives lawmakers a suggested roadmap to consider ahead of their 2026 legislative session, scheduled to begin Jan. 20.

Utah’s Republican-controlled Legislature typically doesn’t put finishing touches on the budget until the final days of the 45-day session, which will conclude in early March.

Cox’s $30.7 billion budget proposal is notably less than the $30.8 billion budget the 2025 Utah Legislature adopted for the current fiscal year — which Cox said during his budget announcement at a Salt Lake County library in Kea

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