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Committee hears House Bill 337 proposing broad income tax rate changes
Summary
A bill that would lower Montana's top individual income tax rate while raising lower brackets drew support from taxpayer groups and sharp opposition from budget, nonprofit and senior advocates who warned of large, sustained revenue losses concentrated at the top.
Representative Brandon Lerer, the bill sponsor, introduced House Bill 337 as an income tax reduction plan, saying, “This bill is an income tax reduction bill.” The measure would lower the top marginal rate and raise the bottom rate while expanding the top-of-bracket deduction over a two-year period, the sponsor told the committee.
The bill drew immediate organized support from the Taxpayers Association. Bob Storymon of the Taxpayers Association said the proposal is a different approach from prior cuts and “we support the bill,” while noting the fiscal note could be adjusted to match any funding level the Legislature prefers.
Opponents concentrated on the bill's fiscal impacts and distribution of benefits. Rose Bender of the…
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