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Montana revenue director: GOP tax-cut bill initially drops state revenue

Republican proposals to slash federal taxes could end up cutting Montana tax revenue by as much as $30 million the next two years, state Revenue Director Mike Kadas says.

In a memo this week to Gov. Steve Bullock’s budget office, Kadas said the proposed changes in federal individual income taxes would lead to higher Montana tax revenue.

But other changes, such as increasing corporate tax write-offs and cutting federal mineral royalty payments, would more than offset those increases, he said.

"We have big concerns about the overall effects of what they’re doing," Kadas told MTN News in an interview Wednesday. "They’re essentially financing tax breaks with deficit spending. …

By Mike Dennison – MTN News

http://www.kpax.com/story/36957181/mt-revenue-director-gop-tax-cut-bill-initially-drops-state-revenue

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