{"id":5217,"date":"2012-02-28T15:20:20","date_gmt":"2012-02-28T22:20:20","guid":{"rendered":"http:\/\/stateimpact.npr.org\/idaho\/?p=5217"},"modified":"2012-02-28T15:20:20","modified_gmt":"2012-02-28T22:20:20","slug":"legislative-roundup-tax-cut-bill-moves-forward-and-two-new-industry-tax-breaks","status":"publish","type":"post","link":"https:\/\/stateimpact.npr.org\/idaho\/2012\/02\/28\/legislative-roundup-tax-cut-bill-moves-forward-and-two-new-industry-tax-breaks\/","title":{"rendered":"Legislative Roundup: Tax Cut Bill Moves Forward and Two New Industry Tax Breaks"},"content":{"rendered":"
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Kevin Rank \/ Flickr<\/p>

The Idaho State Capitol in Boise<\/p><\/div>\n

A handful of new tax and spending bills are making their way through the Legislature this week.\u00a0 Here’s an update of what’s happening and what we’re watching.<\/p>\n

Tax Cuts<\/h3>\n

A bill to reduce the income and corporate tax rates of Idaho’s top earners got an initial nod of approval from the House tax committee.\u00a0 The Spokesman Review<\/em> blog ‘Eye On Boise’ reports HB 563<\/a> passed by a 13-4 vote. <\/p>\n

The bill aims to cut<\/a> the top individual income tax rate from 7.8 percent to 7.4 percent and the top corporate rate from 7.6 percent to 7.4 percent.\u00a0 It would cost the state an estimated $35.7 million in 2013.<\/p>\n

‘Eye On Boise’ blogger Betsy Russell reports<\/a> the measure is co-sponsored by 40 of the House’s 70 members.\u00a0 Democratic Rep. John Rusche opposes the idea:<\/p>\n

\u201cThis proposal violates some of my principles. I don’t think it’s responsible to cut taxes when we can’t meet the current needs,\u201d said Rusche – Eye On Boise<\/p><\/blockquote>\n

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