What a great idea!
BOISE — Employers would receive a tax deduction for contributions to education accounts for their employees or employees’ families, under legislation approved by the Idaho House on Monday.
The bill, sponsored by Rep. Paul Amador, R-Coeur d’Alene, passed 57-12, on a near party-line vote.
Idaho already has a tax-deductible account for individuals, so they can set aside money for educational expenses for themselves or their family.
Amador’s bill would extend eligibility for the program to private companies. Employers could receive a tax credit equal to 20 percent of their annual contribution, up to a maximum of $500 per employee, per year.
This is wonderful for businesses and their employees.
Notice that the Dem’s don’t like it. “One size must fit all” is their motto.
Rep. Lauren Necochea, D-Boise, objected to the legislation, saying it takes money out of the state general fund — which benefits all Idahoans — and lets employers redirect it to the benefit of their employees.
People who work for nonprofit companies, schools and state agencies also wouldn’t benefit from it, she noted.