Bonners Ferry Herald: House Bill 380 Could be a Double Hit to Revenue and Federal Fiscal Aid (Idaho)

House Bill 380 – which would reduce the number of income tax brackets from seven to five, reduce the remaining income and corporate tax rates as well as provide a one-time tax rebate – could cost between $383 million and $398 million in its first year (fiscal year 2022) and $163 million to $171 million in years thereafter, per the bill’s fiscal note and analysis by the Institute on Taxation and Economic Policy. Read more