Greg Gianforte Confirms His Support for Giving Tax Breaks to the Wealthy, Like Himself
Gianforte Would Blow a $30 Million Hole in Montana's Rainy Day Fund
Just yesterday, in an interview with the Daily Inter Lake, Greg Gianforte is quoted saying he "would have signed" Sen. Bruce Tutvedt's tax bill that would give tax breaks to the wealthiest Montanans while raising taxes on middle class families, and blowing a massive hole in our state's rainy day fund.
"Greg Gianforte just confirmed what we've known all along, he wants to give tax breaks to millionaires and billionaires like himself while throwing the middle class and our state's fiscal strength under the bus," said Jason Pitt, Communications Director for the Montana Democratic Party. "His support for this tax bill would give handouts to the wealthy at the expense of the middle class, and blow a $30 million hole in our state's rainy day fund. This is just another example of why Gianforte's values don't represent Montana."
Sen. Bruce Tutvedt's tax bill would have raised income taxes for approximately 17 percent or 75,000 of Montana's income taxpayers, blown a hole in Montana's rainy day fund, and undermined the state's fiscal responsibility. Governor Bullock rightly vetoed this legislation.
Last month, under Gov. Bullock's leadership, Montana was named the 6th most tax competitive state in the country.
- Tax Bill Raises Taxes for 75,000 Montanans. In 2015, Governor Steve Bullock vetoed SB 171 that would revise the individual income tax and eliminate several credits, raising taxes for 75,000 Montanans. [SB 171, 5/04/15]
- Tax Bill Would Cost State $30 Million. SB 171 would cost the state almost $30 million dollars, which would have jeopardized balancing the state budget and maintaining a rainy day fund. [SB 171,5/04/15]
- Married Couples Would Pay an "Overall Higher Rate." From the Missoulian: "State revenue staffers said the biggest losers under Tutvedt's bill would be married couples who file their state income taxes seperately. They likely would have to file jointly under Tutvedt's changes, forcing some of them to pay an overall higher rate, the agency said." [Missoulian, 1/29/15]
- Tax Bill "Wouldn't Lower Overall Taxes Much Over the Long Run." From the Montana Standard: "Tutvedt's bill, presented Thursday to the Senate Taxation Committee, wouldn't lower overall taxes much over the long run-although it would increase and decrease taxes for certain taxpayers." [Montana Standard, 1/29/15]