More and more rankings are piling up for Idaho

Wednesday, November 2, 2022

Boise, Idaho – Governor Brad Little today commented on yet more rankings placing Idaho at the top of the list for economic strength and fiscal stability.

“In Idaho, we champion limited, responsible government strategic investments where they matter, and our approach is working. Washington, DC, and states across the country should view Idaho as THE success story on how to bring prosperity to the people we serve,” said Governor Little.

The latest rankings for Idaho include:

  • Fitch Confirms Idaho’s AAA Credit Rating – For the second year in a row, Fitch affirmed Idaho’s AAA credit rating – the highest a state can achieve. The Fitch Report states that “Idaho’s ‘AAA’ IDR reflects the state’s credit strengths, including broad spending and revenue powers, high reserve levels, low liability burden at term and strong long-term economic growth expected. Fitch believes the state is well positioned to absorb the back-to-back rounds of tax cuts it has enacted to date, given Idaho’s cautiously managed budget with significant one-time spending that trickles down to create a fiscal capacity. At any given time, only about ten states have achieved AAA credit rating, indicating a high level of confidence in the management of a state’s budget and the strength of the state’s economy. The higher a state’s credit rating, the lower the cost of paying off its bonds, which saves taxpayers on interest charges. (link)
  • Idaho in top 10 states for bad weather funds – The Pew Charitable Trusts places Idaho in the top 10 states for our healthy reserves on rainy days. Idaho’s rainy day funds have more than doubled under Governor Little, from $562.5 million to $1.164 billion. Pew says rainy day funds “are a critical fiscal tool that helps states weather the ups and downs of the business cycle.” (link)
  • Idaho #1 in five agricultural commodities – Idaho’s agricultural sector is getting stronger. Idaho ranked first in the nation in five different agricultural product categories: potatoes, barley, alfalfa hay, peppermint oil, and food trout (link)
  • Idaho in top 10 states for economic outlook and economic performance – Explosive economic growth combined with responsible public spending puts Idaho at the top of the economic drivers for both rich and poor states. (link)

ADDITIONAL recent rankings for Idaho include:

  • Idaho State #1 for Economic Dynamics – Idaho claimed the top spot in the State Policy Reports State Economic Momentum Index. The index ranks states based on their most recent performance in three key measures of economic vitality – personal income growth, job growth and population growth. (link)
  • Idaho #1 Fastest Growing State Thanks to Fiscal Policy – The Tax Foundation ranks Idaho first in net resident gain from interstate migration, noting, “The latest IRS and Census data show that individuals and businesses favor states with strong tax systems. weak and structurally sound, which can impact state economic growth and government coffers.” (link)
  • Idaho State #1 for Tax Revenue Growth During Pandemic – The Pew Charitable Trusts placed Idaho first in tax revenue growth (16%) during the pandemic above its pre-COVID trajectory, the highest of any state. (link)
  • State of Idaho #3 ready to withstand economic stress – The latest state stress tests from Moody’s Analytics put Idaho in third place, just behind two other states with oil reserves. The paper estimates the amount of fiscal pressure applied to state budgets under a likely next-recession scenario and compares that pressure with the amount of money states have set aside in reserve. (link)
  • Idaho, first state for equal income – “Among the most conservative states in America, Utah, Idaho, Wyoming, South Dakota and North Dakota excelled on most measures” in an analysis of income equality between the states. (link)
  • Govt. Little #4 on the Fiscal Policy Report Card on US Governors – The latest report from the CATO Institute rates governors on their fiscal policies from a limited governmental perspective. Governors who receive an A are those who cut taxes and spend the most, while governors who receive an F raised taxes and spent the most. Governor Little landed 4th place on the list. (link)
  • Govt. Little #8 Most Popular Governor in the United States – Morning Consult, a global data and analytics firm, ranked US governors by popularity, with Governor Little taking eighth place. (link)

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