Yet again, Idaho’s booming economy blows past projections, paving way for more tax relief, investments in education
Boise, Idaho – At a press conference in Coeur d’Alene today, Governor Brad Little announced that Idaho’s economy and budget would continue to strengthen, paving the way for even more Idaho tax breaks and additional investment in education, roads and clean water and broadband paves and other areas in the next year.
Governor Little said Idaho’s booming economy saw government revenue hit $ 580 million ahead of forecasts – the best month for government revenue in Idaho’s history – with the potential to end the fiscal year in June with another record surplus nearly $ 800 million, an all-time high.
“Years of fiscal conservatism, quick action during the pandemic, few COVID restrictions, responsible federal aid dollar allocation and our relentless focus on reducing bureaucracy are the reasons Idaho’s economy is currently catapulting ahead of other states,” said Governor Little.
The good news about Idaho’s stable budget means that Governor Little will advocate even more tax breaks and strategic investments in key areas, with education high on the list of priorities.
Just last week, Governor Little’s budget office informed state authorities that he would keep state government spending low in order to make meaningful investments in education and to maintain a structurally balanced budget.
With Idaho’s record budget surplus that year, Governor Little and the Idaho Legislature achieved the largest tax cut in the state’s history and made strategic investments in transportation, education, and other key areas under Governor Littles’ initiative Building the Future of Idaho Plan.
The May sales figures released today by the Division of Financial Management are available here: https://dfm.idaho.gov/publications/eab/gfrr/gfrr2021/gfrr_jun2021.pdf
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