Flanked by dozens of Republican lawmakers on the steps of the state Capitol, Gov. Greg Gianforte signed a tax cut, rebate and spending package totalling more than $1 billion Monday.
The eight-bill package, which provides short-term property and income tax rebates and also cuts state income taxes on an ongoing basis, puts a major slice of the state’s estimated $2.5 billion budget surplus toward what the governor called “the largest tax cut in Montana history.”
The bills also cut the state’s business equipment tax, pay off $125 million of state debt, restructure the state’s corporate income tax, streamline capital gains taxes and put $100 million into a highway construction fund.