$51M tax cut plan clears Idaho House

The Idaho House has overwhelmingly approved a $51 million tax cut plan

House lawmakers voted 58-11 on Thursday to send the proposal to the Senate.

House Majority Leader Mike Moyle, who is backing the bill, says lawmakers should give a little cash back to Idahoans in a year when the state is expecting a budget surplus.

Compared with neighboring states, Idaho’s top individual income tax and corporate income tax rates are higher than Montana’s and Utah’s. Wyoming and Nevada do not tax in those categories

The bill would exempt the first $750 of income from taxation, as well as reduce the top income and corporate rates from 7.4 percent to 7.2 percent.

All 11 of the House Democratic lawmakers voted against the legislation.