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$200M tax cut plan headed to Idaho House floor

Posted: 10:53 AM, Feb 05, 2018
Updated: 2018-02-05 17:53:32Z

One of the largest tax reduction bills ever proposed in Idaho's history is headed to the House floor for debate.

The $200 million tax cut plan is designed to offset the Republican tax overhaul that President Donald Trump signed into law in December.

If approved, the plan would reduce personal income and corporate tax rates -- and create a $130 Idaho child tax credit.

Idaho lawmakers are feeling pressure to pass some sort of sweeping tax relief plan this year because, currently, taxpayers are estimated to pay roughly $100 million more in taxes due to the federal tax plan's changes.

The House Revenue and Taxation Committee approved the bill Monday with just Boise Democratic Reps. Mat Erpelding and John Gannon voting against.

(by Associated Press)