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<p class="MsoNormal"><img width="813" height="191" style="width:8.4687in;height:1.9895in" id="Picture_x0020_1" src="cid:image001.png@01D77D58.966F9C90"><o:p></o:p></p>
<p class="MsoNoSpacing"><span style="font-size:12.0pt;font-family:"Open Sans",sans-serif">FOR IMMEDIATE RELEASE:<o:p></o:p></span></p>
<p class="MsoNoSpacing"><span style="font-size:12.0pt;font-family:"Open Sans",sans-serif">July 20, 2021<o:p></o:p></span></p>
<p class="MsoNoSpacing"><span style="font-family:"Open Sans",sans-serif"><o:p> </o:p></span></p>
<p class="MsoNormal" align="center" style="text-align:center"><b><u><span style="font-size:18.0pt;font-family:"Open Sans",sans-serif">Idaho closes Fiscal Year with record surplus</span></u></b><span style="font-family:"Open Sans",sans-serif"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Open Sans",sans-serif"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Open Sans",sans-serif">Boise, Idaho – Governor Brad Little announced today that Idaho ended its fiscal year with a surplus of nearly $900 million, adding to the largest surplus in state history.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Open Sans",sans-serif"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Open Sans",sans-serif">State revenue collections exceeded $5 billion for the first time, representing 24.2% growth over the previous fiscal year. This growth percentage represents the single largest annual increase
in General Fund revenue according to available records.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Open Sans",sans-serif"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Open Sans",sans-serif">The two largest drivers of Idaho’s record surplus are income tax filings, exceeding projections by $469 million, and sales tax collections of $166 million more than forecast.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Open Sans",sans-serif"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Open Sans",sans-serif">“Idaho’s economic numbers show even in the middle of a global pandemic, conservative governing works,” Governor Little said. “We have worked hard to curb government spending while providing
tax relief and making investments where they count. We are seeing the impact of those conservative principles in action.”
<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Open Sans",sans-serif"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Open Sans",sans-serif">This year, Governor Little and the Idaho Legislature achieved the largest tax cut in state history and made strategic investments in transportation, education, and other key areas as part
of Governor Little’s “Building Idaho’s Future” plan. <o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Open Sans",sans-serif"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Open Sans",sans-serif">Governor Little announced previously that with the record surplus he will continue to advocate for more tax relief and strategic investments in key areas, with education topping the priority
list.<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Open Sans",sans-serif"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Open Sans",sans-serif">“The tax dollars of Idaho’s citizens are accounted for in accordance with the law, and the state of Idaho closed its fiscal year with a remarkable surplus,” State Controller Brandon Woolf
said. “Due to prudent leadership and our fiscally conservative values, the state of Idaho was better prepared for the hardships of the pandemic and has come out of these unprecedented times with the best economic footing in the nation.”<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Open Sans",sans-serif"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Open Sans",sans-serif">The June revenue figures posted by the Division of Financial Management today are available here:
</span><a href="https://dfm.idaho.gov/"><span style="font-family:"Open Sans",sans-serif">https://dfm.idaho.gov/</span></a><span style="font-family:"Open Sans",sans-serif"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Open Sans",sans-serif"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Open Sans",sans-serif"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Open Sans",sans-serif"># # #<o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-family:"Open Sans",sans-serif"><o:p></o:p></span></p>
<p class="MsoNoSpacing"><span style="font-size:12.0pt;font-family:"Open Sans",sans-serif">NEWS MEDIA CONTACT: Marissa Morrison Hyer, Press Secretary<o:p></o:p></span></p>
<p class="MsoNoSpacing"><span style="font-size:12.0pt;font-family:"Open Sans",sans-serif">208-943-1686 or
</span><a href="mailto:Marissa.Morrison@gov.idaho.gov"><span style="font-size:12.0pt;font-family:"Open Sans",sans-serif">Marissa.Morrison@gov.idaho.gov</span></a><span style="font-size:12.0pt;font-family:"Open Sans",sans-serif">
<o:p></o:p></span></p>
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