Gianforte’s budget proposal delivers funding for critical infrastructure projects and programs

Governor Greg Gianforte has announced plans to submit a budget proposal to the 2023 Montana Legislature that includes over $1 billion in income and property tax cuts, according to Montana.gov, the official state website of Montana, on November 10, 2022.

As reported by the website, the budget will also use the state’s budget surplus to create a child tax credit, invest in housing development, and invest in healthcare and correctional facilities. Gianforte said that the budget is designed to bring relief to Montana families and reinforce critical state programs and infrastructure.

In particular, the budget will give Montana homeowners $500 million in property tax relief over the next two years and decrease the state’s top income tax rate to 5.9% from 6.5%. It will also give families with children under six a tax credit of $1,200 per child per year.

Based on the report of Mara Silvers of MTFP on November 10, 2022, the budget includes a $200 million investment in a water and sewer infrastructure fund for municipal and county governments to support housing construction, as well as a $300 million investment in the Montana State Hospital to support intensive behavioral health care, outpatient services, and increased Medicaid rates for behavioral health care providers.

Additionally, the budget includes funding for prison repairs and expansion, district and justice courts, wildfire prevention and response, increased law enforcement efforts, infrastructure projects, school safety initiatives, the state’s Broadband Development Grant Program, the Electric Generation and Transmission Intertie Program, and the Renewable Energy Development Program. The full budget will be released on November 15^th, according to Mara Silvers.