Idaho Gov. Otter hit $1 billion in tax cuts since 2007

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Idaho Governor Butch Otter has lowered the tax burden for Idaho residents by roughly 1 billion dollars during his 11-year tenure.  Otter announced his tax-cutting accomplishments during last week’s State of the State address.

Otter’s staff later provided the media with more detailed information on the tax relief he approved from fiscal year 2008 through fiscal year 2017.  The popular grocery tax credit created the biggest savings, providing a combined 633 million dollars in relief since it began in 2008.  The next biggest tax-relief measure has been cutting individual and corporate tax rates, which has resulted in a combined 213 million dollars in tax relief over the past 10 years.  Additional sales tax exemptions and business incentives made up the rest.

The governor’s first years in office came during the height of the Great Recession, and Otter approved the bulk of the state’s tax relief in the past five years.  This year, the Republican governor is not requesting that the Legislature pass a tax cut, but he says he is open to approving one if it comes to his desk.

With state budget writers expected to see a surplus at the end of the fiscal year, lawmakers must decide whether to place the funds in the state’s savings accounts – which have still not reached pre-recession levels – or cut taxes. (AP)