In The News
New Study: Low- and Middle Income Families in MT Pay Higher Share of Income in Taxes than Wealthiest Families
11/19/2009, Helena IR, "Study Says State Taxes Poor More"
Montana low-and middle-income families pay a larger share of their income in state and local taxes, on average, than do the state’s richest households, a new national study concludes.
The Stimulus Proves its Worth to Montana
A year after the passage of the American Recovery and Reinvestment Act, the stimulus has proved its ability to create jobs and maintain services for Motnana families.The act flushed money into the Montana Economy, and made sure thousands of people could maintain their incomes, and stimulate growth through consumer spending.
MBPC Executive Director Tara Veazey reflects on the progress of the ARRA in the Montana Standard, and also notes that a lot of work is left to be done:
Montana Can Bypass a Costly and Ineffective Federal Tax Break for Corporations
Like most other states, Montana’s revenue has been dropping dramatically over the past year. A little-known contributor to the declining revenue is a federal corporate tax break that is hurting our revenue stream and was never approved by the Montana legislature.
This report explains the impacts of the Domestic Production Credit, and shows how its elimination will help Montana solve its revenue crisis.
Revenue Crisis Shows the Need for a Balanced Approach to the State Budget
Tax day, the governor's 5% cuts to the state budget, and a range of other budget debates have passed, allowing the opportunity to envision a path ahead for the Montana state budget.
MBPC Research Director Sarah Wilhelm argues for the need for a balanced approach to the state budget in a guest editorial in the Great Fall Tribune, where she explains the important connection between tax revenue and state services like education and land management:
MBPC Finds Property Tax Mitigation Bill Wanting
3/24/09, Helena IR, "Reappraisal Bill Draws More Critics than Backers."
"It makes an already very, very complicated area of our tax system even more complicated," said Tara Veazey of the Montana Budget and Policy Center, a nonprofit. She favors the large circuit-breaker approach advocated by Kaufmann.
Reductions to Business Equipment Taxes Result in Shift to Homeowners
2/18/09, Helena IR, "Business Tax would Exempt First $200,000 in Equipment."
"Tara Veazey of the Montana Budget and Policy Center said the total market value of business equipment has jumped by 66 percent from 1994 to 2007. Yet over the same period, state and local government revenue derived from this tax dropped by 20 percent.
Proposed Bill Would Increase State Revenue and Restore Income Tax Fairness
2/12/09, Helena IR, "House Bill Aims to Bring in More Tax Revenue."
"Under the 2003 income-tax rewrite, 81 percent of Montana households got an average tax benefit of $23 each, while those with incomes exceeding $500,000 received tax breaks averaging more than $30,000 apiece, said Tara Veazey of the Montana Budget and Policy Center.
She estimated McAlpin's bill would affect only between 0.05 percent and 1 percent of Montana households."
New National Report Shows MT among Worst at Taxing Low-Income Workers
11/05/2009, Helena IR,"Study: State Tax System Unfair to Working Poor."
Montana taxes the incomes of the working poor more harshly than any state, a report Wednesday said.