The Idaho Legislature is considering a proposal that would cut income and corporate tax rates and provide a one-time tax rebate.
Under the proposal, the tax benefits from this proposed legislation are heavily lopsided. Taking all provisions into account, households with very modest earnings would receive a $78 average tax cut, and the top 1 percent who would receive an average tax cut of $8,863.
The draft legislation would cost between $386 million and $389.4 million in its first year and between $160 million to $169.4 million per year thereafter.
Read the full report here: Analysis and Considerations Related to House Bill 332
The Child Tax Credit Provides Tax Relief to All Families with Children
- The Child Tax Credit (CTC) is a tax incentive that provides tax relief for families with children. It is offered by the federal government
