The House has voted 54-13 in favor of a $126 million cut in income taxes over the next six years; HB 548 now moves to the Senate side, where Senate Local Government & Taxation Committee Chairman Jeff Siddoway already has said he doesn’t plan to give it a hearing, as he favors instead further expanding the property tax exemption for business equipment. The bill would lower every individual and corporate income tax bracket’s rate by a tenth of a percent each year for the next six, eventually lowering the top rates from 7.4 percent down to 6.8 percent. If the state’s general fund revenue didn’t grow by at least 3 percent in a particular year, the next installment wouldn’t happen/Betsy Russell, Eye on Boise. More here.
Other Eye on Boise posts today:
- WiFi contract future still up in the air
- Decision on WiFi, Schoolnet delayed 3 days
- New division OK'd for more transparency in school budget
- House Education Committee introduces pilot pre-school program
- Budget for public TV tries to get ahead of failures of aging equipment
Question: Again, a tax cut is more important than public schools. Thoughts?