Utah is the Most Competitive State in US: Jonathan Williams on NTD News

ALEC Chief Economist and Executive Vice President of Policy Jonathan Williams spoke with NTD News on the success of Utah ranking number one in new Rich States, Poor States report.

Utah has been cutting taxes aggressively now for over a decade and a half. They’ve already had a flat tax put in place since the start of Rich States, Poor States. The reduction of rates, reforms to the pension system and its move to a 401k style, portable individual, or retirement accounts have reduced liabilities for workers. In addition, Utah has been dealing with the uptick in property taxes utilizing model legislation, the truth-in-taxation law, to address the issue.

North Carolina is one of the biggest turnaround stories in the 16 years of Rich States, Poor States. They were one of the few states with Utah that has gone from a progressive tax to a flat tax system. They took an outdated tax code made changes including killing the state’s death tax and reducing business tax rates.  Arizona comes in at number three. The state boasts education freedom accounts for students and parents as well as the 2.5% flat tax. Other turnaround states include Virginia, Kentucky, and Mississippi using similar actions for their own improvement.