As Idaho session progresses, tax cut plans emerge
BOISE, Idaho (AP) - Amid the 2014 session's third week, proposals to cut Idaho's income tax rates are emerging behind the scenes.
For instance, the Idaho Chamber Alliance, representing businesses statewide, is floating a proposal to reduce all Idaho marginal tax rates, from the 7.4 percent ceiling to the 1.6 percent floor.
The cost, however, is about $125 million over five years.
That's on top of House Speaker Scott Bedke's separate proposal to shift $80 million from grocery credits to income tax cuts.
Both, however, have similar goals: Make Idaho more attractive to businesses seeking to relocate.
Bedke said Tuesday he's given the alliance permission to print its bill.
But there's opposition: Ex-Idaho economist Mike Ferguson fears a tax cut would drain money otherwise slated for human capital investments: Education, health care, public safety.