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Steve Bullock on Tax Reform

 

 


Many people not benefitting from economy

Q: What do you say to voters who say, economy's doing great, why vote for somebody else?

A: If you look over the last 40 years, the average American worker hasn't had a wage increase in real terms. Only half the 30-year-olds are doing better than their parents were at age 30. The guy that cleans this building paid more in taxes last year than Amazon did with $10 billion in profit. For a whole lot of folks, they're not getting a lot better because of what the Trump tax cuts.

Source: CNN SOTU 2019 interview of presidential hopefuls , May 19, 2019

Don't benefit the wealthy at the expense of middle class

Republican gubernatorial candidate Greg Gianforte announced his "406 Tax Relief" plan, which he says will cut taxes and freeze government spending. Even before the Republican released his plan, the re-election campaign for Democratic Gov. Steve Bullock said the proposal would benefit the wealthy at the expense of middle class families. The Bullock campaign released this statement:

"Greg Gianforte's self-serving tax plan is nothing more than a tax giveaway for millionaires like himself, at the expense of Montana's middle class families and our state's fiscal prudence. The fact is, under Steve's leadership, Montana is ranked the most fiscally prudent state in the country, he's balanced the budget while maintaining a rainy day fund, and cut taxes for thousands of small and medium sized businesses."

Source: KFBB Fox News on 2016 Montana gubernatorial race , Apr 18, 2016

$400 personal rebate instead of $100M property tax cut

Let's never allow misinformation to be the motivation for missteps. I propose returning $100 million back to the pockets of Montana homeowners. Others have suggested we should use that $100 million and provide property tax cuts, instead. The difference between the tax rebate and tax cut is simple: who stands to benefit?

Giving $100 million back in the form of a tax rebate will return $400 to everyone with their primary residence in the state. If you take the $100 million and use it to cut property taxes, instead, the average Montana homeowner would receive just $44 this year, not $400. Think about that--it will take 10 years for the taxpayer to get as much money back as they'll get this year with the rebate.

Yet, if you are a company like PP&L, the proposed tax cut would reward you with over $1 million this year alone--23,000 times more than what the average homeowner would receive. If we consider who stands to benefit from our actions, the path we should take becomes clear.

Source: 2013 State of the State Address to Montana legislature , Jan 30, 2013

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Page last updated: Jun 24, 2019