Commerce chief: Importance of ‘window dressing’ and sending a message…

Idaho Commerce chief Jeff Sayer, speaking in favor of HB 563, the $35.7 million tax cut to the Rev & Tax Committee this morning, said, “This legislation helps us.” He said in competing to attract businesses, “The analogy we like to use is window dressing. … One of the challenges we have is our tax rate is not competitive. … Underneath that, our effective rates are lower, but the challenge is window dressing. … We don’t make the cut, because our corporate rate is higher and that sticks out.”

Sayer said. “The message this would send to the nation is significant. There are states all across the nation that are scrambling to fill deficits and to resolve their spending problems. There are companies in those states that are looking over their shoulders wondering if their tax rates are going to go up. This legislation would allow us to step forward and announce to the world that not only is Idaho financially solvent and fiscally sound, but we just reduced our taxes.”