H40 reduces Idaho’s income tax rate on individual and corporations to 5.3%, while eliminating the calculation of capital gains or losses for precious metals.

The Senate passed H40 on March 4, 2025, by a vote of 27 to 8. We have assigned pluses to the ayes because the income tax is an immoral, anti-constitutional act of government-imposed theft that takes from people the wages they have rightfully earned. It turns citizens into slaves. A person’s property, including their income, belongs solely to them—not the state. The Bill of Rights and the 14th Amendment expressly affirm that “No State” shall “deprive any person” of “liberty, or property.” Idaho must reject tyrannical, big government by protecting property rights and guaranteeing “equal protection of the laws.”