Montana Governor Hosts Historic Tax Cut Bill Signing Ceremony
Missoula, MT (KGVO-AM News) - Montana Governor Greg Gianforte gathered with a phalanx of fellow Republican legislators on the steps of the State Capitol Building in Helena on Monday to sign a number of bills that will reduce taxes for Montanans.
There were Lots of Smiles as Governor Gianforte Signed Numerous Tax Relief Bills
Gianforte began by repeating a familiar mantra since the Montana State Legislature began its session in January, that Montanans deserve tax relief.
“Providing meaningful tax relief is critical, especially as inflation takes a bigger bite out of individual's budgets from gas to groceries,” began Gianforte. “Today I'm proud to be signing eight new bills into law. Six bills that deliver the largest tax relief package in Montana history. One that makes Montana debt free in ‘23 and one that invests to make our roads and bridges safer.”
First, Gianforte Signed the Income Tax Reduction Bill
Gianforte first signed his income tax reduction bill.
“Today I'm signing a bill that will benefit Montana taxpayers at every income level and see a permanent cut to income tax rates, long-term relief, and certainty to middle-class families, small business owners, farmers, and ranchers,” he said. “This bill cuts the rate most hardworking Montanans pay from 6.9 percent in 2021 to 5.9 percent with the signing of this bill.”
Gianforte then turned his attention to Montanans that are concerned with high property taxes.
“Montanan's property taxes are too high, and they keep rising,” he said. “At some local jurisdictions, spending growth is growing much faster than rates of inflation and population growth. Too often, I've heard from Montanan's that they're worried about their property taxes pushing them out of their homes. Montanans need property tax relief, including a rebate and long-term reforms. Our property tax rebate will give Montanans $500 property tax rebates in both 2023 and 2024.”
Gianforte also Signed a Bill to Return $2.5 Billion in Overpaid Taxes
With a budget surplus of over $2.5 billion, Gianforte and the Republican legislators made good on promises to return that money to Montana taxpayers.
“Because we passed a conservative budget two years ago, we have a historic surplus today,” he said. “Ultimately, Montanans overpaid their taxes. It's just that simple. Since Montanans overpaid their taxes, we're going to give it back to the folks who earned it. Today I'll sign a bill to send back a rebate of up to $1,250 to Montana income taxpayers. That’s $1,250 straight back to the rightful recipients, Montana taxpayers.”
Gov. Gianforte’s bill signing ceremony may be viewed by clicking here.