KAYSVILLE, Utah (ABC4) — Gov. Spencer Cox and Lt. Gov. Deidre Henderson announced on Thursday, Dec. 8, they are backing a $1 billion tax cut proposal and a $6,000 compensation increase for teachers in Utah.

“Utah’s strength is in its people,” Cox said. “Returning hard-earned dollars to Utahns who are struggling from the impacts of inflation is the right thing to do and will support the families who need it most.”’

The tax cut includes proposals such as an income tax reduction, a dependent exemption for pregnant women, a property tax reduction, an expansion of the circuit breaker credit, an expansion of the dependent exemption and returning service fees through the Universal Service Funds.

The governor also recommended increasing compensation for every teacher in Utah to $6,000, which includes around $4,600 of benefits.

“Teachers make a tremendous difference in our lives and we need Utah’s best and brightest to become teachers,” Gov. Cox said. “Getting and keeping high-quality, qualified educators in classrooms will do wonders for our K-12 students, and this pay increase will help us do that.”

The Office of the Governor said recommendations for education amount to more than $1.5 billion, including a 5% increase to the value of the weighted pupil unit, a total of $476.90 for educator support, funding for students at risk of academic failure, and 95.6% of the funds needed to have optional all-day kindergarten available for every family.

Cox will be giving a full breakdown of the 2024 budget recommendations on Friday, Dec. 9.