BOISE, ID – The state of Idaho ended the 2025 fiscal year with a balanced budget and a positive cash balance of about $345 million, Gov. Brad Little announced in a press release issued Friday afternoon.
State revenues now $141 million below Idaho Legislature’s projections
“Idaho leaders have long championed responsible budgeting and conservative principles that promote economic activity,” Little said in a written statement Friday. “What we’re doing is working. The Legislature and I have delivered historic tax relief while making critical investments in public schools, roads and infrastructure. In fact, state support for public education increased nearly 70% in a few short years, and we will continue to prioritize better teacher pay and classroom resources.”
Idaho runs on a fiscal year calendar that begins July 1 and ends June 30. That means the 2025 fiscal year just ended.
Over the past couple of months, state revenues have come in below forecasts set by the Idaho Legislature in the state budget, the Idaho Capital Sun reported. But legislators and Little left enough of a cushion that the state still ended the year with a $345 million ending balance.
During the 2025 legislative session, state legislators and Little cut taxes by $400 million and spent another $50 million on a refundable tax credit for education expenses including tuition at private, religious schools.
Those moves cut taxes and also reduced revenue available for the state budget by about $453 million.
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