Idaho House Panel Introduces $22M Tax Cut for Top Earners
BOISE, Idaho (AP) — Idaho's top-earning individuals and businesses would get tax relief worth $22.6 million under a bill that cleared a House committee on Tuesday.
The legislation introduced by House Majority Leader Mike Moyle of Star would reduce the income tax for corporations and individuals in the top two tax brackets by one-tenth of a percent. It's the first tax cut proposal introduced this legislative session. The measure would also increase Idaho's grocery tax credit by $10 per person.
Under the bill, most eligible Idahoans would be reimbursed $110 for taxes paid on food. Moyle says the measure gives a small break to Idahoans. House Minority Assistant Leader Mat Erpelding of Boise voiced the only opposing vote. The bill must now clear a legislative hearing, which has not yet been scheduled.