Law Makers Revive Tax Benefit Job Growth Plan
Governor Butch Otter has revived efforts in the Idaho Legislature to boost the struggling economy by giving businesses tax incentives to create new jobs. A bill unveiled this morning would give businesses a series of tax credits, ranging from 2 percent to 6 percent of a new employee’s gross annual wage. A company’s credit would depend on their rating from the Idaho Department of Labor for their unemployment insurance tax payments. The legislation aims to help areas hit hardest by the recession, with minimum hourly wage requirements tied to county unemployment rates. Otter says it also fits with his Project 60 plan to grow the state’s economy to $60 billion by encouraging businesses to add more jobs. A previous measure to provide job incentives in the 2011 session failed amid concerns about its fiscal impact.