Posted by (+8799) 4 months ago
Billings Gazette (Dec 24) wrote:Federal tax cuts passed into law this week are likely to cut into Montana state revenue by $70 million a year, Montana’s Department of Revenue reported Friday.
Corporate income tax breaks, individual income tax deductions and the potential elimination of federal royalty payments would cut state revenue by $70.3 million in tax year 2018, Revenue Director Mike Kadas said.
Over the next four years, the annual loss would swell to $76.2 million in 2019, before sliding to $67.3 million in 2021. Revenue economists have been closely monitoring the state impacts of the tax cuts, as Montana struggles with a revenue decline.
I assume that would be in addition to the earlier ...
Billings Gazette (Oct 29) wrote:Montana lawmakers battling as budget office projects $227 million shortfall
In any case, how do you think Montana is going to make up what it needs? Massive cuts to services? Higher property taxes? Higher income taxes? A new sales tax? ???
The extra $20 or $40 or $50 you get every 2 weeks from Trump's tax cuts (unless you have a google of children or are in a high enough tax bracket to do creative accounting) -- is not only going to give nothing to you in the end -- but will also bankrupt the state.
Great job for all of you who voted for Trump and rallied for this giant redistribution wealth to the richest of the rich. 👏 👏 👏