It’s the middle of March, and the Idaho Legislature still hasn’t done anything to provide meaningful tax relief to Gem State residents. And now, there’s a possibility that waiting this long means the state won’t be able to collect $1.89 billion from the federal government’s COVID relief package and cut taxes at the same time.
That’s because buried in the horrid $2 trillion print-money-until-you-can’t-see-the-sun-anymore bill is a provision that says states are expressly prohibited from using the funds to directly or indirectly offset a reduction in net tax revenue from March 1, 2021 to the end of 2024. Basically, that means the law that congressional Democrats rammed through and President Joe Biden signed attempts to prevent states from both lowering their taxes and taking in money from the federal government at the same time.
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