HELENA — As the Montana Legislature began its fourth working day Thursday, Gov. Greg Gianforte urged lawmakers to take quick action to provide tax relief.
“One thing that we all agree on is that hard-working Montanans need tax relief now, without delay,” he said.
At a news conference at the State Capitol, Gianforte again highlighted his budget proposal for the next two years, which sets aside $1 billion in tax cuts. Some of the notable proposed cuts include:
- Lowering the top income tax rate from 6.5% to 5.9%.
- $1,000 property tax rebates on primary residences in 2023 and 2024.
- $1,200 tax credits for parents with young children and $5,000 credits for adoptions.
- Expanding the earned income tax credit to assist lower-income families.
- Exempting the first $1 million of a business’s equipment from tax, up from $300,000.
Gianforte said the state should prioritize returning tax money to the Montanans who paid it, and that he wants to see it happen as soon as possible.
“I think it's important, particularly with the inflation that so many Montana families have seen, that we get this property tax relief out quickly,” he said. “It's one of the top things I heard up in the Flathead yesterday, and I encourage folks, if they want substantive property tax relief, to reach out to their legislator and ask them to get that relief bill on my desk as soon as possible.”
A spokesperson for the governor’s office said some of the bills including the governor’s tax proposals have been introduced, but none have had committee hearings yet. Those hearings are expected to begin in the coming weeks.