House Republicans cruised to an easy win Monday, passing their latest tax cut proposal totaling $253 million. Personal and corporate income tax rates would drop by nearly half a percent to 5.3%. Retired veterans’ military pension would be exempt and capital gains on precious metals like gold would no longer be taxed under the plan.

Republican Gov. Brad Little proposed a $100 million tax cut during his annual address earlier this year, bragging that officials have cut taxes by $4.6 billion over the last six years. But Moyle has said he wants more, and aims to approach $5 billion in reductions by the end of the year.

Star, presented the proposed bill Thursday to reduce the flat individual and corporate income tax rate from 5.695% to 5.3%.

Moyle expects the measure to cost $253 million in total. Democrats on the House Revenue and Taxation Committee opposed the bill, including House Assistant Minority Leader Steve Berch (D-Boise). “This bill cannot be viewed in isolation,” said Berch. “It is part of a broader mosaic that doesn’t make it clear it can be justified given other factors.”

The House voted on party lines Monday to approve a $253 million cut to the personal and corporate income tax rate. This is the first of three tax

This story was originally posted on IdahoEdNews.org on Feb. 3, 2025. The Idaho House overwhelmingly passed a $253 million tax cut Monday — after some debate about how the cut might affect education budgets.