House Majority Leader Mike Moyle, R-Star, is proposing legislation this morning to cut Idaho’s corporate and individual income tax rates, in all brackets, by a tenth of a percent a year for the next six years. The cost to the state general fund would be roughly $21 million a year for each cut, for a total of $126 million a year by the sixth year. By the end, that would bring Idaho’s top individual and corporate income tax rate down to 6.8 percent from the current 7.4 percent, which Moyle noted is below Montana’s rate of 6.9 percent/Betsy Russell, Eye on Boise. More here.
Question: Izzit just me, or is there better places to invest $126M than income tax rate cuts? Mebbe abolishing sales tax for groceries?