Record Idaho tax cut clears panel, heads to House for vote

Idaho News January 19, 2022

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Record Idaho tax cut clears panel, heads to House for vote

BOISE, Idaho (AP) — A panel of lawmakers has given its blessing for Idaho’s largest-ever tax relief package. The House Revenue and Taxation Committee on Tuesday voted to send the $600 million tax measure to the full House. The bill includes $350 million in rebates for 2020 income tax filers and $250 million in ongoing tax cuts for people and businesses. The $350 million is coming in part from the state’s $1.9 billion budget surplus. The ongoing tax cuts come from reducing income tax rates, including dropping the top rate from 6.5% to 6%. Corporate income tax would also be cut from 6.5% to 6%. Opponents say the tax cuts mostly benefit the wealthy.

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