Good evening folks.
We're changing things up on how
we do things on the 208 here on
Friday evenings. Listen to this.
We wanna take some time on Fridays
from now on to share some of the
big stories that you, the viewers,
had a lot to say about on Fridays.
This is your home for catching up
on the week that was in Treasure
Valley and the state of Idaho.
We're going to answer some of your
questions that we didn't get to this week.
We're going to update you on
some of your favorite 208 stories
and dive in in depth into topics
that you want to hear more on.
And this week one of those major
talkers that we're going to kick off
the show with the major tax cut being
discussed at the Idaho State House.
We've seen a lot, a lot, a lot,
a lot of questions and comments on this one.
So let's spell it all out for you together.
So first to begin our show,
we're going to take a look at
the in's and outs of the much
talked about Idaho tax bill.
Idaho
lawmakers at the ground running
this week and already they have
a major tax bill to debate.
Idaho Republicans are touting this
new legislation as a simple give
back in tax cut for Idaho wins
as the state sits on millions and
millions in budget surplus dollars.
We've got inflation going crazy across
the nation and across the state.
It's important to get this
money back to the people
House Majority Leader Republican Mike Moyle
is one of the sponsors of the tax bill.
He says the bill will consolidate
Idaho's income tax brackets from 5
down to four with the new lower rates.
Of 1% three percent,
4 1/2% and 6% respectively.
For each bracket.
Now the highest tax bracket will be
for people who make $5000 and more.
The bill would also lower the
corporate income tax from 6 1/2 to 6%.
And it also provides A1 time income tax.
Rebate of $350 million,
returning approximately 12% of
Idaho taxes paid in 2020 or $75
for each taxpayer independent
whatever amount is greater.
Most people in Idaho are in
that upper bracket, so we had.
We're taking care of most Idahoans
with that bill, but it is, you know,
some people don't pay any taxes.
It makes it hard to give back
money when they don't pay taxes.
That's why the bills written the way it is,
though we do give them $75 for every man,
woman and child if they don't pay taxes.
Representative Moyle says
with the budget surplus,
Republicans simply want to give
Idahoans their tax dollars back,
get it to their hands, or they
can use it to take kind of offset.
Some of the costs that are going up now.
Idaho Democrats say they appreciate
the idea, but that this tax bill
doesn't help those who need it most.
Now, we have an opportunity to prioritize.
Working Idahoans and and bolstering
the middle class and this tax bill
would squander the opportunity.
Assistant House Minority Leader
Democrat Lauren Necochea says the cuts
would direct the largest benefits
to the top of the income spectrum.
Idaho Democrats would love to see
us take those dollars that we have
that are available and put them into
property tax reduction and would also
want to have a conversation about
repealing the sales tax on groceries.
Michael J adds that the tax brackets
proposed don't really translate to
everyone giving a fair share. Yeah,
there's no reason why a millionaire
should pay the same percentage
of their tax as a teacher,
and we would absolutely support
expanding those tax brackets.
Do you know to make those adjustments?
Every man, woman, and child is
going to get something you know.
It's it's a good bill and it's
going to lower our tax rates makes
us more competitive. Nationwide,
it's going to help the state of Idaho
look better to bring businesses here,
and it's going to help people stay in
their homes and and and jobs and work
here and stay here for their lives.
It's going to make it better for Idahoans,
which is a good thing.
Idaho Democrats argue the surplus
being used for this cut really isn't
a surplus, but instead the result
of bad policies and investments.
We under fund a lot of the things
that local government has to do,
and that schools have to do so if we put
more of that state funding and directed
it to schools and local governments,
we could reduce property taxes substantially,
and that's what Idahoans are asking for.
Moyle says it doesn't have to be
one or the other. There's enough
to do a lot of things that need to be
done and want to be done for a long time.
And after a passionate and
extended debate this week,
the tax bill has now passed the Idaho
House essentially on a party line vote
Republicans supporting it except for one.
So it is now on to the Idaho Senate and
we spoke to House lawmakers for their
take on the tax bill after it passed
and Republicans are applauding it.
Dems raising some major questions.
First, House Speaker Scott Betke,
a Republican, tells me that lawmakers in
the Republican Party they feel like this
is a good compromise on the tax bill,
and they say it's really in step
with Governor Littles idea on this.
Topic.
We came with record surpluses that
money came from you and to give it back.
That that that which don't need to run
the essential services it remotely.
It needs to be back in your pocket
not sitting in some account.
Now that's not to say that this won't,
that that we won't take care of
business and that we will, you know?
So we're not going to let the roads
and bridges lapse as was alleged.
Maybe we're not.
We're going to take care of
schools this year too.
Idaho Democrats are asking
is this really what Idahoans
want critics of the tax bill?
Mostly Democrats at the Statehouse
say that the money being given
back again $600 million overall.
Well, they argue that that money
could be put towards valuable state
programs that need more funding,
like education and infrastructure.
I spoke with House Minority
Leader Ilana Rubel earlier today.
Here are her thoughts on the topic.
I suppose we probably could
give all the tax cuts we want.
We just have to let a few bridges fall down,
but we don't want to do that.
So this really makes it impossible for
we think a lot of other priorities to
be pursued that frankly we think would
help Idahoans a lot more and a lot
more in line with what Idahoans are
telling us they want to see happen.
I've heard from a lot of people
about getting rid of the grocery tax
and about lowering property taxes.
I have heard from nobody saying they
think our top priority should be to
send $13,000 checks. Millionaires.
So the tax bill now moves to the
Idaho Senate, which would be the
final hurdle that it would need to
clear before the bill could possibly
end up on Governor Littles desk.
Republican leadership at the
Statehouse tells me this week that
if this bill clears the Senate,
they expect that governor little
would sign the bill into law.
It brings us to a viewer question
about what would happen if this law
passes Jim our rights to the 208 asking
will Social Security recipients get
a $75 rebate since we don't pay any
taxes and you heard representative
Moyle referenced this in this story.
Says, you know it's hard to give
people money back who don't pay taxes,
and there are people, for example,
that are on Social Security.
So the quick answer for you, Jim?
Yes, the answer to your question is yes.
If passed the tax rebates again would
be for 12% of an individual's 2020
Idaho personal income tax return,
or $75 for each taxpayer,
and dependent whatever amount is greater.
So, for example,
if you and your wife are you
and your husband,
you're both at home living
on Social Security,
you don't have other income
and you file your taxes.
You would each get.
$75 here, but a big key.
Everyone needs to remember.
Make sure you're caught up on your taxes.
April is right around the corner.