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Gianforte's priority bills emerge: Business equipment exemptions, lower income taxes

Governor Greg Gianforte's top legislative priorities, Senate Bill 323 sponsored by Republican Senator Josh Kassmier of Fort Benton and Senate Bill 322, received their first legislative committee hearings this week, aiming to further reduce taxes in Montana.
These bills build upon previous tax cuts and are driven by a philosophy of attracting businesses to Montana.
Senate Bill 323 would cut the top income tax rate from 5.9% to 4.9% and lower the capital gains tax from 4.1% to 3.9%, while Senate Bill 322 would increase the business equipment tax exemption from $1 million to $3 million, exempting businesses with equipment valued under that amount from paying the tax.
On March 28, Governor Gianforte spoke at a rally at the Montana State Capitol, promoting his income tax cut proposal, stating, "We're here today because we believe in a simple truth: We know you know how to spend your money better than the government does."
While proponents like Bob Story of the Montana Taxpayers Association believe the cuts are important for Montana to be competitive with neighboring states, opponents such as Rose Bender of the Montana Budget and Policy Center and Amanda Curtis, president of the Montana Federation of Public Employees, argue the benefits disproportionately favor the wealthy and large businesses, potentially shifting the tax burden to local residential taxpayers and leading to underfunding and a loss of community services.

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Helena Independent Record

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Gianforte's priority bills emerge: Business equipment exemptions, lower income taxes

Two major governor-backed bills to further rein in taxes that have already seen cuts in recent years got their first hearings in legislative committees this week.

12 hours ago·Helena, United States

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The Billings Gazette

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Gianforte's priority bills emerge: Business equipment exemptions and lower income taxes

“We’re here today because we believe in a simple truth: We know you know how to spend your money better than the government does,” Gianforte said at a rally Friday.

3 days ago·Billings, United States

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KTVH

+3 Reposted by 3 other sources

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Montanans gather for income tax rally

The steps of the Montana State Capitol were filled with supporters gathering together to learn more about how Governor Greg Gianforte is hoping to change income taxes. "Too often when you get a paycheck, you look at it and wonder, 'Where did it go?' We know the answer, don't we? Taxes," said Gov. Gianforte.Republican Senator Josh Kassmier of Fort Benton introduced Senate Bill 323. The bill would amend the current code for Montana's individual in…

3 days ago

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