Top Idaho House Republican: $400 million tax cut planned

KUNA (AP) — Idaho lawmakers are looking at a $400 million tax relief package for the upcoming legislative session that includes a $200 million income tax cut, a top Republican House member said.
House Assistant Majority Leader Jason Monks said Friday the income tax cut involves lowering the top income tax bracket from 6.5% to 6%.
Monks spoke at a legislative district town hall meeting in Kuna with several other lawmakers.
Monks said Republican Gov. Brad Little is behind the income tax cut plan, as is the House Revenue and Taxation Committee chairman.
“They’re greasing the skids pretty good on this,” Monks said.
He said the other $200 million would come from a one-time tax relief package.
Republican lawmakers last year passed nearly $400 million in tax relief that Democrats said mainly benefitted the wealthy.
Idaho’s budget surplus is estimated at $1.6 billion, much of that attributed to the $5 billion the federal government has sent to Idaho in coronavirus relief money.
The Legislature is scheduled to meet in Boise on Jan. 10, and lawmakers will look at setting state agency budgets.
Republican Gov. Brad Little earlier this month hinted at possible tax cuts stemming from the projected surplus.
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Source: eastidahonews.com