Public Finance
The Gardner Institute employs a team of economists who specialize in public finance. We also benefit from a Public Finance Council that guides our research agenda and supports the development of a public finance practice area. Our research focus areas include, but are not limited to: tax policy, revenue forecasting, fiscal impacts, budget stress-testing, budget transparency, and public finance best practices.
Highlighted Research
Income Tax insights
In recent decades, income tax revenue growth outpaced growth in the two other major taxes (property tax and sales and use tax), even with tax rate cuts. In fact, since full implementation of Utah’s current single rate system in 2008, Utah’s income tax base has more than paced with the economy.
December 2022 Newsmaker Breakfast: Property Tax Insights Presentation
The property tax is Utah’s most stable tax. This stability comes from both the less volatile nature of property and the design of Utah’s property tax system
Property Tax Insights
The property tax is Utah’s most stable tax. This stability comes from both the less volatile nature of property and the design of Utah’s property tax system.
A Cloudy Crystal Ball: Pandemic Forecasting Challenges Highlight Need for Budget Relief Valves
STATE BUDGET OFFICIALS HAVE RUN a gauntlet of challenges since COVID-19 descended upon the US in January 2020. The nation’s economy whipsawed through the pandemic—from growth to contraction to recovery to overheating—as the federal government’s crisis response encourage shutdowns and unleashed trillions of dollars of stimulus money.
Gardner Business Review: U.S. and Utah Debt Policy: A Study in Contrasts
The state of Utah’s bonding practices vary dramatically from that of the federal government. Instead of borrowing for ongoing programs as the federal government does, Utah wisely borrows for needed capital projects such as highways and buildings.
The Unprecedented Federal Fiscal Policy Response to the COVID-19 Pandemic and its Impact on State Budgets
Massive fiscal stimulus supported the economy during the pandemic, but also contributed to goods shortages, inflation, and long-term debt.
Utah State Government Growth Presentation
In 2020, U.S. government expenditures climbed to 31.2% of the nation's Gross Domestic Product (GDP), the largest expenditure as a percent GDP since the end of World War II. Such a level of government participation in the nation’s economy alarms some analysts. Has the state of Utah followed a similar trend or is it on its own path.
Utah State Government Growth: Following the Feds or On its Own Path?
In 2020, U.S. government expenditures climbed to 31.2% of the nation's Gross Domestic Product (GDP), the largest expenditure as a percent GDP since the end of World War II. Such a level of government participation in the nation’s economy alarms some analysts. Has the state of Utah followed a similar trend or is it on its own path?
A Visual Guide to Tax Modernization: Understanding Property Taxes
Utahns share a common interest in a state and local tax system that provides for our needs, keeps the economy strong, and remains viable over the long term. This visual guide, which is the third in a series, illustrates key components of Utah’s property tax – the oldest and most stable of Utah’s major taxes.
USHE Data Book: The Costs and Benefits of Higher Education
As a large share of Utah’s state budget and a key input to economic development, higher education plays a significant role in the Utah economy and is associated with many individual and societal benefits.
