The Idaho House Revenue and Taxation Committee on Tuesday approved HB 563, a measure that permanently cuts individual and corporate income taxes for top earners.

The bill, co-sponsored by 40 of the 70 House members, heads to the full House for a vote. It would cut the top individual income tax rate from 7.8% to 7.4% and the top corporate rate from 7.6% to 7.4% in 2013. 

Rep. John Rusche, D-Lewiston, opposed the bill.

He told the Spokesman Review newspaper that it was irresponsible to cut taxes on top earners when the state has a half-billion dollars in deferred maintenance on state buildings, and has made cuts to Medicaid and school funding and drained reserves.

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