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Monthly tax revenues exceed $1 billion in Idaho

This marks the first time this has happened in the state’s history
(WMC Action News 5)
Published: May. 10, 2022 at 2:45 PM MDT
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BOISE, Idaho (KMVT/KSVT) — Monthly tax revenues have exceeded $1 billion in Idaho for the first time in the history of the state of Idaho.

In a statement, he also raised the possibility of more tax cuts in the future.

Tax revenues last month exceeded $1.2 billion, which was more than initially forecasted by $574 million. The newest numbers put the Gem State on track to achieve a budget surplus of $1.3 billion for the current fiscal year 2022, which ends in June.

Governor Brad Little released a statement about the news, saying:

“Idaho’s record-setting economy is no accident. The continued strength of Idaho businesses and the health of our state budget prove our conservative approach to governing works. Idaho is the most conservative state in the nation – we back the blue, empower parents, cut taxes, slash red tape, and rein in government spending continually, without exception.”

“To Idahoans, I tell you this – we have achieved historic tax cuts for you in the past few years, and we are not done yet. Our conservative principles mean more tax cuts are coming. You will be getting more of your hard-earned dollars back in your pockets and bank accounts. I’m so proud of our robust and resilient private sector and responsible approach to state budgeting.”

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