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House committee introduces bill to cut Idaho income tax rates
Summary
The Idaho House Revenue and Taxation Committee on Jan. 23 introduced RS 32,013, a proposal from Speaker Mike Moyle to lower individual and corporate income tax rates and exempt some military retirement income; the motion to introduce passed after brief debate and questions about the fiscal analysis.
The Idaho House Revenue and Taxation Committee on Thursday introduced RS 32,013, a bill from Speaker Mike Moyle proposing reductions to individual and corporate income tax rates and exemptions for some military retirement income. Committee members voted to introduce the bill after a short debate and questions about the fiscal note.
Moyle (Speaker Mike Moyle, Representative, District 10) told the committee the proposal would lower individual and corporate income tax rates from the current level to 5.3 percent and estimated roughly $240,000,000 in savings from that rate cut. He described the measure as part of a broader push for tax relief this…
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