The Idaho Legislature’s Tax Working Group meets today at 8:30 in the Lincoln Auditorium, where it will take public testimony starting at 8:45 on four proposed tax-cut bills, lowering the corporate and top personal income tax rate by a tenth of a percent; increasing the exemption per county from the personal property tax on business equipment to either $150,000 or $250,000; and removing the sales tax from groceries while also eliminating the current grocery tax credit. You can listen live here.
In advance of the meeting, the Idaho Center for Fiscal Policy today released an analysis of the four proposals. The group calculated that the four would reduce state revenues by up to $64.5 million a year, plus cut another $21.4 million in tax revenue from local governments in Idaho. “All the proposed policies would provide larger benefits to high-earning individuals and businesses than to Idahoans who are middle-class or earn lower wages.” You can read the center’s five-page analysis here.
Last week, a statewide poll commissioned by the Associated Taxpayers of Idaho found that a remarkable 70 percent of Idahoans feel the state’s current tax system is fair, and the only big objection is that high-income earners and corporations don’t pay their fair share. There’s more on that here online and here in my Sunday column.
The Tax Working Group’s agenda calls for public testimony until noon, a lunch break until 1:15, and then discussion on legislation by the committee until 3 p.m.; it also notes that if public testimony is competed earlier, the committee discussion may begin before the lunch break. You can see the full agenda, plus links to all four proposed bills, online here.