Taxation was a main talking point Tuesday, or rather, reducing taxes. Republican leaders Art Wittich and Keith Regier are each proposing bills. Wittich’s approach is short-term but would give back more in tax breaks.
“Allow 5 percent reduction in income tax payments for one year and also a $100 property tax credit recovered through an income tax return,” Wittich said of his bill.
Regier’s bill would have a smaller impact to taxpayers initially, but would have no end date.
“House Bill 166 will reduce each Montana individual income tax rate by one-tenth of one percent,” he said.
Heather O’Loughlin, co-director of the Montana Budget and Policy Center, is one strong opponent of both bills.
“Not only do theses tax cuts represent significant costs to the state, almost ⅔ of the benefit of these tax cuts will go just the top 20 percent of earners in Montana.”
No immediate action was taken on either bill.