Nov 13, 2024
At a Wednesday news conference in Helena, Gov. Greg Gianforte gave a first look at his budget priorities for the next two years with an emphasis on reducing taxes and investing in public safety.Gianforte said he saw Republicans success in this years national and Montana elections as a message that voters want to see conservative government, and he said his proposed budget for the 2025 legislative session reflects that.It's a conservative vision centered on family, our communities, and our way of life, he said. Montanans responded resoundingly to that conservative vision.Gianfortes administration made tax cuts a key part of their 2023 budget plan, and that continued this year. Gianforte called for $850 million in income tax reductions, through lowering the top tax rate from 5.9% to 4.9% and increasing the earned income tax credit.These tax cuts will let Montanans keep more of what they earn, help folks navigate the nationwide affordability crisis and create a more prosperous future for our state and people, he said.Gianforte said one of his top priorities for the session is implementing a homestead exemption for property taxes, as recommended by a state task force. It would raise the baseline tax rates on residential and commercial properties, but then create lower rates for Montanans primary residences, long-term rentals and smaller commercial properties. Supporters say it would shift the property tax burden toward second homes, out-of-state residents and larger payers.Gianforte said he wants the Legislature to advance the homestead exemption as quickly as possible, with hopes that property owners can receive benefits next year instead of later on.On public safety, Gianforte called for increasing pay for Montana Highway Patrol troopers, providing more funding for programs like drug treatment courts and making extensive investments in the correctional system $150 million to expand capacity at Montana State Prison and $250 million to implement a longer-term plan to address correctional needs.Gianforte wants to again boost pay for teachers just starting their careers, a goal established with the TEACH Act passed in 2021. He also wants to direct more than $80 million to help school districts pay for deferred maintenance needs.In addition, Gianfortes budget calls for speeding up approval of new housing projects, investing in bridges and disaster preparedness and shoring up state pension systems.Our budget is balanced, fiscally responsible, and avoids cuts to essential services, he said. Our budget will build a stronger future for Montana.The main state budget bill will likely include about $7 billion in spending each of the next two years. Gianforte said, under his proposal, state spending will grow by less than the rate of inflation.Gianforte said the full details of his budget proposal will be released on Friday.
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