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
Idaho’s Recent String of Income Tax Cuts Jeopardizes Investments in Public Services
- Every year, Idaho tax dollars are spent to ensure families receive a good education, live in safe communities, experience good health, and drive on
