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As of midday Friday 918 bills had been introduced in the Montana legislative session and Gov. Greg Gianforte had signed three bills into law. This week we’re watching legislation on tax policy, public health and labor unions.
Republican lawmakers are ferrying a number of Gov. Greg Gianforte’s tax proposals through the legislative process, including Senate Bill 159, carried by Sen. Greg Hertz of Polson. It would lower the personal income tax rate for the state’s top tax bracket from the current 6.9% to 6.75%. That would reduce taxes at least some for about half of Montana taxpayers
Similarly, House Bill 303 carried by Rep. Joshua Kassmier, a Republican from Hamilton, passed out of the House last week. The Business Investment Grows (BIG) Jobs Act would increase the exemption ceiling on the state’s business equipment tax from $100,000 to $200,000, in effect eliminating the task for about 4,000 businesses.
Over the upcoming week, the state Legislature will take up several of the policies proposed by Gov. Greg Gianforte in his inaugural state budget.
Gianforte, the stateâs first Republican executive in 16 years, has dubbed it âTax Reform Week.â In an interview last Friday, the governor said his goal is to provide âbroad-based tax relief to individuals, low-income folks and small businessâ through incremental changes that he wants to start this session and expand on later in his term.
Business organizations in the state support the proposals from Gianforte, as his plans align with what the groups have long called for. The governor argues things like raising the business equipment tax exemption, dropping the top income tax rate and eliminating the capital gains tax for some entrepreneurs will result in more investment and jobs in the state, overall boosting the economy. Republicans, who hold the majority in the Legislature, have also indicated they back the plan
As of midday Jan. 29, 490 bills have been introduced , and there’s one bill on Gov. Greg Gianforte’s desk. This week, we’re watching bills to make tribes
Northern Utah lawmakers met virtually to discuss the first week of the 2021 Legislative Session
The first week of Utahâs legislative session has ended and Northern Utah lawmakers are already working on many different pieces of legislation. The men gathered virtually last week for a town hall streamed on Facebook, where they updated constituents on topics from taxes to firearms.
âI think the legislative leaders and also the governor or both have been talking about an $80 million tax break. No, we re not looking at any tax increase. We re very, very fortunate the state of Utah right now is better off financially than any other state in the country,â said Senator Chris Wilson. Wilson is serving on the Senateâs Taxation and Revenue committee and represents Cache and Rich counties.