[Vision2020] Otter Sponsors More Tax Cuts for Corporations and Top Income Bracket

[Tom Hansen]

Esto perpetua, V-Peeps.

Courtesy of today's (February 29, 2012) Spokesman-Review.

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Tax cut for top earners clears panel
BOISE – A $35.7 million income tax cut for Idaho corporations and top individual earners cleared the House tax committee Tuesday and headed for the full House with 40 of the 70 House members co-sponsoring it.

The measure, HB 563, is co-sponsored by Gov. Butch Otter; it would lower Idaho’s top individual income tax rate from 7.8 percent to 7.4 percent and lower the corporate tax rate from 7.6 percent to 7.4 percent. About 17 percent of Idaho income taxpayers would benefit.

Rep. John Rusche, D-Lewiston, one of just four opponents in the House committee, said, “I don’t think it’s responsible to cut taxes when we can’t meet the current needs.” Also voting no was the committee’s chairman, Rep. Dennis Lake, R-Blackfoot.

House Majority Leader Mike Moyle, R-Star, the bill’s lead sponsor, said, “It’s probably the best economic development bill we’ve seen all year.”

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Idaho House Bill 563
http://www.legislature.idaho.gov/legislation/2012/H0563.pdf

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Seeya later, Moscow.

Tom Hansen
Coeur d'Alene, Idaho

"If not us, who?
If not now, when?"

- Unknown


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