Friday, March 2, 2012

House Approves Tax Cut For Wealthy Idahoans

Posted By on Fri, Mar 2, 2012 at 9:29 AM

Following a full afternoon of debate on the floor of the Idaho House, with one lawmaker calling a proposed tax cut a "shell game" and another calling it "the best economic development bill" of the year, a measure to slash more than $35 million from Idaho's top individuals and corporate tax rates passed Thursday on a 49-20 vote.

Eight Republican Representatives: Black Foot's Dennis Lake, Lewiston's Jeff Nesset, Rexburg's Mack Shirley, Twin Falls' Leon Smith, Rupert's John Stevenson, Moscow's Tom Trail, Burley's Fred Wood and Rigby's JoAn Wood joined 12 Democrats in voting against the measure.

House Tax Chairman Dennis Lake cautioned his colleagues: "I'm fortunate I won't be here next year to deal with the issue. You'd better think about it carefully."

But co-sponsor Star Republican Mike Moyle insisted that his bill "sends a very clear message."

"This is not our money," said Moyle. "I believe people will spend this money much better than we can or we will."

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