IFF’s Hoffman entertains tax cut fantasy

The Idaho Freedom Foundation’s Wayne Hoffman has an interesting way to eliminate the state’s $130 million surplus.

Give it back to the taxpayers – all of it. Then, add another $70 million refund to the taxpayers. Happy New Year.

Of course, his idea isn’t going anywhere – at least, not to the tune of $200 million. Gov. Butch Otter said in his State of the State address that legislation to cut the base tax rate employers pay for unemployment insurance ($46 million in the coming year and $116 million over three years) is sufficient. The co-chairs of the Joint Finance-Appropriations Committee, Sen. Shawn Keough of Sandpoint and Rep. Maxine Bell of Jerome, don’t appear anxious to make room for massive tax cuts as they work on the budget.

But in Hoffman’s world, there’s no need for reality to get in the way of a perfectly good political fantasy. He says that cutting taxes should be the Legislature’s top priority this year, and chides Otter for not joining the cause/ Chuck Malloy , Idaho Business Weekly. More here.