Tax Relief

Idaho’s economic system beats forecast, paving the way in which for extra tax breaks and funding in training | information

BOISE – At a press conference in Coeur d’Alene on Wednesday, Governor Brad Little announced that Idaho’s economy and budget would continue to be strengthened, paving the way for even more tax breaks for Idahoans and additional investment in education, roads, clean water, Broadband and other areas next year.

Little said Idaho’s booming economy saw government revenue hit $ 580 million ahead of forecast – the best month for government revenue in Idaho’s history – with the potential to end the fiscal year in June with another record budget surplus of nearly 800 US dollars end million, an all-time high.

“Years of fiscal conservatism, quick action during the pandemic, few COVID restrictions, responsible federal aid dollar allocation, and our relentless focus on reducing bureaucracy are the reasons Idaho’s economy is currently catapulting ahead of other states,” Little said.

The good news of Idaho’s stable budget means that Little will be pushing for even more tax breaks and strategic investments in key areas, with education high on the list of priorities.

Just last week, Little’s budgetary authority informed government agencies that it would keep government spending lean in order to make meaningful investments in education and to maintain a structurally balanced budget.

With a record Idaho budget surplus that year, Little and the Idaho Legislature achieved the largest tax cut in the state’s history and strategic investments in transportation, education and other key areas under its Building Idaho’s Future plan.

The May sales figures released today by the Division of Financial Management are at https://bit.ly/3ivLyzy. available

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