Brad Little on Tax Reform

The Trump tax cuts will provide real relief

Our plan uses a responsible mix of one-time and ongoing spending reductions to keep the budget structurally sound. Across state government, executive agencies will tighten their belts. We're renegotiating contracts to save money. We're reprioritizing initiatives. We're finding operational efficiencies, and we will make disciplined use of cash balances and interest earnings. All of this serves to limit the impact on Idahoans as we right-size government.

Legislature shares our goal of prioritizing tax relief

We are on pace to deliver $3.7 billion in tax relief

We created a fair, predictable, and lower flat income tax

Enacted $2.5B in tax relief to help offset Bidenflation

Already cut $1 billion in taxes, relief for Bidenflation

Proposes the single largest tax cuts in Idaho history

Budget proposes $35 million in grocery tax relief

Inform taxpayers to increase state income tax withholdings

Even though sales tax and corporate tax revenues have been robust, our personal income tax receipts are falling short. The federal tax code changed recently, but few Idahoans know they need to update their tax withholdings. I am ordering the Tax Commission to do all they can to better inform taxpayers of what they need to do to avoid a surprise income tax bill.

My team is following this issue closely, confident revenues will eventually match the rapid pace of economic growth. Though we are confident, in true Idaho fashion, we will not spend money until it's in the bank.

My budget recommendation will balance our books and fulfill important promises. Additionally, any new tax exemption should be tied to a proportional reduction in state spending or real income generation.

Lift tax burden for everyone