BOISE, Idaho — Sweeping tax cuts proposed by Idaho lawmakers would slash assessments on all income brackets and lower the sales tax from 6% to 5.3% beginning next year.
The complex, 17-page proposal was introduced Tuesday in a House committee after Republican Gov. Brad Little called for $450 million in tax relief, including $295 million in one-time cuts and $160 million in permanent tax cuts. The proposed bill estimates it would result in $284 million in tax relief a year.
Despite the pandemic, Idaho has a budget surplus of about $600 million. Officials attribute much of that to federal virus relief funds and an influx of new residents.