Boise, Idaho – Governor Brad Little issued the following statement about today’s extraordinary legislative session securing historic tax relief and education funding to combat 40-year high inflation.
House Bill 1 uses Idaho’s record budget surplus to address the impacts of inflation by cutting taxes while making record investments in education. The bill provides $500 million in immediate one-time income tax rebates, $150 million in ongoing tax cuts by establishing a new, lower flat tax, and $410 million in ongoing support for Idaho education – a new record.
The bill overwhelmingly passed both the Idaho House of Representatives and the Idaho Senate. Governor Little signed the bill at 6:27 p.m.
“The successful extraordinary session demonstrates government working FOR THE PEOPLE. I am proud of my legislative partners for confronting the substantial impacts of inflation head on by putting our record budget surplus back in the pockets of Idahoans while responsibly funding education at historic levels to ensure we are meeting our constitutional and moral obligation to Idaho students and families both in the short-term and the long-term. Returning the people’s money is the right thing to do, and the education investments support families, help us keep up with growth, enhance our quality of life, and prepare a workforce to meet the changing needs of employers.
“The people of Idaho expect the executive and legislative branches to work together to move our state forward. I deeply appreciate my partners in the Legislature for continuing to show the rest of the country how Idaho does it right – we work together to promote a business-friendly tax and regulatory environment, live within our means, pay off our debt, save for a rainy day, routinely cut taxes, and make investments where they count.
“Idaho is an incredible success story, and I am proud of what we’ve accomplished for the people we serve!”
Governor Little will hold a series of media events across the state next week to celebrate the success of this game-changing legislation for Idaho families.
Original source can be found here.
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