Source www.mtpr.org Gianforte has yet to sign his other banner tax cut proposals, including those for personal income taxes and capital gains taxes.
The business equipment tax cut policy will have the state allocate general fund dollars to local governments to offset the losses in funding for schools caused by decreased tax revenue. The bill was one of a slate of tax reductions proposed by the Gianforte administration with the aim of boosting economic development in Montana.
Democratic legislative leaders released a list of bills Tuesday they’re asking Gianforte to veto, including the BIG Jobs Act. They say it prioritizes tax cuts for the wealthy over middle and low-income Montanans. The BIG Jobs Act, or News Investment Grows Jobs Act, is projected to exempt 4,000 more businesses from having to pay taxes on equipment purchases with the increased exemption limit.
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