The Governor Just Signed a Billion Dollar Spending Spree in Tax Handouts to the Wealthy
FOR IMMEDIATE RELEASE
Monday, March 13, 2023
CONTACT
hadley@montanademocrats.org
Rushed, Irresponsible, and Potentially Unconstitutional?
Helena, MT – On Monday, Governor Greg Gianforte signed his Billion Dollar Spending Spree into law – 8 spending bills bundled together to deliver massive tax handouts disproportionately to the wealthiest Montanans. In response, Montana Democratic Party Chair Robyn Driscoll released the following statement:
“The Governor will try to paint these bills as ‘historic’ – and he’s right. The state has never spent so much money lining the pockets of the wealthy. Montana has never rushed such a massive spending package through a legislative session. Montana Republicans have never been so fiscally irresponsible. The Governor has never spent a billion dollars before the legislature has passed the general budget. And never before has a Montana Governor been so proud to give working Montana families so little.”
BACKGROUND:
The Governor’s so-called “Permanent Income Tax Relief” disproportionately benefits the wealthiest Montanans. Analysis by the Montana Budget and Policy Center has found that SB 121, HB 221, HB 192, and HB 222 will provide the wealthiest 1 percent of Montanans over $9,000 in annual tax handouts. Meanwhile, Median Income Montanans will see a few hundred dollars on average, most of which is one-time.
The Governor’s “Property Tax Relief” – HB 222 – is a $280 million bandaid on a bullet hole – a one-time payment will do nothing to stop the crisis from worsening. A one-time payment does not keep Montana seniors in their home the year after this money runs out.
By signing HB 221, the Governor has given a dramatic tax handout to investors’ “Capital Gains.” In Gianforte’s Montana, stocks and investments are apparently more valuable than labor and a paycheck earned by an honest day’s work.
###
