In this week’s Tax Policy Podcast, Tax Foundation President Scott Hodge interviews Idaho Rep. Marv Hagedorn, who has introduced a tax reform plan to cut the state’s personal and corporate income tax rates over 10 years. The bill would eliminate state’s seven personal income tax brackets, bringing the top rate down from 7.8% to a single rate of 4.9% for taxable income over $5,000. The corporate tax rate would be reduced from 7.6% to 4.9%. Hagedorn says his plan “sends a clear message and signal to businesses that we’re on a track to help them be successful.” “Unfortunately, every state surrounding Idaho has a lower tax burden than Idaho’s tax burden,” Hagedorn says. “We typically don’t even make the first cut when businesses are looking for a place to go to.” Scott recently traveled to Boise for a presentation on the state’s tax climate. See his presentation here. More on Idaho. Listen to the full podcast here, or check out all of the Tax Foundation’s Tax Policy Podcasts.
