As Idaho session progresses, tax cut plans emerge

As Idaho session progresses, tax cut plans emerge

Credit: Mike di Donato/ KTVB

As Idaho session progresses, tax cut plans emerge

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by Associated Press

KTVB.COM

Posted on January 29, 2014 at 10:50 AM

Updated Wednesday, Jan 29 at 10:53 AM

BOISE -- Amid the 2014 session's third week, proposals to cut Idaho's income tax rates are emerging behind the scenes.

For instance, the Idaho Chamber Alliance, representing businesses statewide, is floating a proposal to reduce all Idaho marginal tax rates, from the 7.4 percent ceiling to the 1.6 percent floor.

The cost, however, is about $125 million over five years.

That's on top of House Speaker Scott Bedke's separate proposal to shift $80 million from grocery credits to income tax cuts.

Both, however, have similar goals: Make Idaho more attractive to businesses seeking to relocate.

Bedke said Tuesday he's given the alliance permission to print its bill.

But there's opposition: Ex-Idaho economist Mike Ferguson fears a tax cut would drain money otherwise slated for human capital investments: Education, health care, public safety.

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