Governor Gianforte: Montanans Overpaid Their Taxes, We're Giving it Back

Statement

Governor Greg Gianforte today joined Fergus County business owners and job creators to discuss his pro-jobs, pro-family, pro-business agenda.

"Here's the bottom line -- Montanans overpaid their taxes, and we're going to give it back," Gov. Gianforte said. "Working with the legislature, we're going to put money back in folks' pockets through the largest tax cut in Montana history."

At Central Feed Grilling Co., the governor held a press conference to highlight elements of his agenda, including delivering Montanans $1 billion in tax relief, the largest tax cut in state history.

In addition to providing historic income and property tax relief, Gov. Gianforte has proposed significant business equipment tax reform.

Sponsored by Rep. Josh Kassmier, R-Fort Benton, House Bill 212 cuts taxes for Montana's small business owners, family farmers, and family ranchers by expanding the business equipment tax exemption from $300,000 to $1 million.

Steve Moodie, store manager of Frontline Ag Solutions in Lewistown, praised the governor's proposal, saying, "This relief leaves a lot of businesses, and especially ag producers, more money at the end of the year so they can choose how to invest. Whether in additional equipment, training, people, or more jobs, it's all put back in the community to the organizations that they want to support in the method that they choose."

In 2021, the governor worked with Rep. Kassmier to increase the business equipment tax exemption from $100,000 to $300,000.

Taken together, these reforms eliminate the business equipment tax burden for more than 5,000 small businesses, farms, and ranches in Montana.

The governor also spoke to the group about red tape relief.

"I want to give a shout out to the Lieutenant Governor," the governor said. "We've gone through every line of regulation in every agency."

"We're cutting red tape, removing unnecessary regulatory obstacles, and changing the way Helena does business to spur innovation and better serve the people of Montana," he continued.

Lastly, Gov. Gianforte spoke to his administration's efforts to increase the supply of affordable, attainable housing in Montana, praising the recommendations of his diverse, bipartisan Housing Task Force.

After the press conference, the governor visited with several dozen members of the community.

Source