Gianforte proposes 4.7% flat income tax, $300M to reserves in final budget
The KXLH segment reports on Governor Greg Gianforte’s unveiling of highlights from his final biennial budget proposal ahead of the 2027 legislative session. It emphasizes completing 2021 goals through a shift to a 4.7% flat income tax rate (eliminating the 5.4% top bracket), increasing the earned income tax credit to offset impacts on lower earners, and using strong revenues for one-time investments without growing permanent government spending. Additional items include hundreds of millions in infrastructure, behavioral health, school facilities, 911 systems, state health plan support, and boosting the budget stabilization (“rainy day”) fund by $300M to a record ~$900M. Sourcing is primarily the governor’s press conference and prepared remarks, with quotes from Republican Senate President Matt Regier (supportive but questioning structure and property tax priorities) and Democratic minority leader opposing the flat tax as favoring the wealthy. Full budget details are due Monday; the segment notes legislative negotiations ahead.
Source: KXLH NEWS