Montana governor Greg Gianforte proposes tax cut, credits

January 9, 2023 Yagya Shekhar Stimulus Check 0

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Montana Governor Greg Gianforte announced a plan to use the state’s $ 1 billion budget surplus to fund tax cuts and credits.

The Governor’s Budget for Montana Families would cut the top income tax rate from 6.5 percent to 5.9 percent, as well as introduce a $1200 tax credit for children under six and a $5,000 adoption credit.

The proposal also includes $500 million in property tax relief.

“I fundamentally believe hardworking Montanans should keep more of what they earn. And with inflation at a high not seen in 40 years, providing Montanans with tax relief is all the more important,” said Gianforte.

The proposal will be formally introduced to the Montana state legislature when it reconvenes in early January.

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