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

January 18, 2022 6:23 PM

Published January 18, 2022 11:40 AM

BOISE, Idaho (AP) — A panel of lawmakers has signed off on 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 a $350 million rebate for 2020 income tax filers and $250 million in ongoing individual and business income tax cuts.

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.

Article Topic Follows: Idaho Politics

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