US EditionIdaho Senate passes bill to cut income taxes, reduce state revenue by $253 million
8 Articles
8 Articles
Idaho Statesman
The spokesman-ReviewBig income tax cut clears Idaho Legislature on way to governor’s desk. Will he sign it?
The Idaho Senate voted to send a massive tax cut — described as part of the largest in state history — to Gov. Brad Little’s desk Tuesday, despite concerns from some lawmakers about the bill’s possible impact on the budget. House Bill 40 is projected to reduce state revenues by $240 million by lowering Idaho’s income tax rate from just under 5.7% to 5.3%. Proponents, including Sen. Doug Ricks, ...
Idaho Senate passes bill to cut income taxes, reduce state revenue by $253 million
State senators on the Idaho Senate floor in 2025 | Pat Sutphin, EastIdahoNews.com BOISE (Idaho Capital Sun) — The Idaho Senate, in a 27-8 vote, passed a bill on Tuesday to cut Idaho’s income tax rate, reducing state revenue by $253 million. House Bill 40, sponsored by Sen. Doug Ricks, R-Rexburg, would do three things to cut taxes in Idaho, including: Reduce income tax for individuals and corporations from 5.695% to 5.3%, costing $240 million an…
Senate passes largest income tax cut in state history, bill to go to gov's desk
BOISE — The Idaho Senate has passed an estimated $253 million income tax cut, that also includes tax exemptions for some military pensions and an elimination of the capital gains tax on precious metal bullion.
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