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Montana lawmakers advanced three bills Tuesday requested by Gov. Greg Gianforte to reduce taxes for residents and business owners. They tabled another bill that would have broadened the state’s Earned Income Tax Credit.
Gianforte and his Republican colleagues in the statehouse say the proposed tax cuts are key to carrying out the governor’s so-called Montana Comeback Plan.
Sen. Greg Hertz of Polson is carrying two of the bills. The objective there is to attract more businesses into Montana with higher wage jobs, Hertz says.
Senate Bill 159 would cut the state’s top marginal income tax rate from 6.9% to 6.75%. It would impact more than half of taxpayers in Montana and would reduce state revenue by an estimated $30 million.
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