Record $600M Idaho tax cut clears House, heads to Senate

By KEITH RIDLER
Associated Press

BOISE, Idaho (AP) — Idaho’s largest-ever tax cut has cleared the House and is headed to the Senate. The House voted 57-13 to approve the $600 million cut that includes a one-time $350 million in rebates and $250 million in permanent tax cuts for people and businesses. The $350 million is coming in part from the state’s $1.9 billion budget surplus. The permanent tax cuts reduce the top individual income tax rate and corporate income tax from 6.5% to 6%. Backers say the tax cuts return money to the people who paid it. Opponents say the tax cuts mostly benefit the wealthy at the expense of essential government services such as education.