Idaho Governor Brad Little Signs $64 Million Business Tax Cut Bill into Law
FRUITLAND, ID – On Friday, Idaho Governor Brad Little signed House Bill 450 into law, providing an estimated $64 million in unemployment insurance tax cuts for Idaho businesses over the next two years.
Little was accompanied by members of the Idaho Legislature when he signed the bill at the Henggeler Packing Company in Fruitland, ID.
“Businesses of all sizes, especially our small businesses, are the backbone of our way of life,” said Governor Little. “I am so pleased that Idaho businesses will be able to keep more of what they earn with the passage of our ‘Leading Idaho’ business tax cut bill!”
In 2020, Idaho strengthened its unemployment insurance trust fund, leading to a $200 million tax cut for Idaho businesses. With Governor Little’s signature of House Bill 450, the lower rates are locked in for the next two years.
“Idaho has the strongest economy in the nation, and we consistently lead other states in our low unemployment rate,” said Little. “Our success is largely thanks to our businesses, and this bill helps them continue creating good Idaho jobs.”
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