Why is the administration considering an income tax reduction when the state is facing a significant budget shortfall?
The income tax and capital gains rate reductions are part of a revenue neutral tax reform plan. They do not reduce revenues to the state. The short-term budget shortfall is obviously a very serious issue and the administration will address it. But we will not forget about the need for long-term economic development. Montana is 46th in per capita income and that needs to change; this is part of the plan to do so.
Related Questions
- At a time when California is facing a severe budget shortfall and State Parks may be shut down, how can you expect to receive any funding for a land acquisition of this size?
- Why is the administration considering an income tax reduction when the state is facing a significant budget shortfall?
- Why can’t the state use the Rainy Day Fund to reduce the budget shortfall?
