Hearing: Lawmakers go shopping in the ‘tax policy store’

Here’s a news item from the Associated Press: BOISE, Idaho (AP) — Business and agricultural industry groups told legislative tax committees that restoring research and development spending and adding financial incentives for job creation would help boost Idaho’s economy. The House Revenue and Taxation Committee and the Senate Local Government and Taxation committees met Wednesday in a rare joint session, to gather input as they consider Gov. C.L. “Butch” Otter’s proposal to dedicate $45 million to tax cuts. House Assistant Majority Leader Scott Bedke told presenters to imagine they were in the tax policy store, hunting for the best product to stimulate the economy. Food Producers of Idaho lobbyist Brent Olmstead said his group’s No. 1 priority would be restoring research and development spending. Clark Krause, of Jobs for Idaho, suggested a fund to reward companies whose products sell beyond Idaho’s borders. IACI President Alex LaBeau said his group’s top wish is to eliminate the personal property tax; Idaho Chambers Alliance lobbyist John Watts called for cuts in income tax rates.