Montana Gov. Greg Gianforte attends the 100th anniversary of the Livingston Roundup Rodeo Parade as grand marshal on July 2, 2024 in Livingston, Montana. (William Campbell)
If passed into law, it would lower the Treasure State's comparatively high tax rate compared to others in the region even further, after the bracket impacting most people went from 6.9% to 6.75%, down to 5.9% in recent years. The state previously had seven brackets, and now it has two as of 2021.
"It's the most conservative tax-cut bill in front of our legislature right now, and we are a conservative legislature. I am optimistic," the Republican said.
The current version of the bill, which is still early in the process, would cut the tax rate to 5.4% in 2026 and the 4.9% rate would start in 2027, according to the legislation's fiscal note.
"As a fellow Montanan feeling the economic strain from the current rising cost of living in our gorgeous state, the bill would provide some relief," Bianca Lester of Butte said, according to a news release.
"I’m a single mom of four, which is no easy feat, and I need every penny that I make to help house and clothe and feed my kids. This bill would allow for so many other families like mine to keep all of our hard-earned income," Lester added.
Donald Trump Jr. also came out in support of the proposed cuts.
"[Gianforte] pushing for the largest income tax cut in Montana history, just like my father’s historic tax cuts! Montana leading the way with conservative, Trump-style tax policies! Get it done! #MAGA," he posted last week.
MORNING GLORY: TRUMP, TARIFFS, THE CR AND THE TAX CUTS
Mississippi Gov. Tate Reeves signed legislation on Thursday to eventually scrap the state's individual income tax. (AP Photo/Rogelio V. Solis, File/Kurt "CyberGuy" Knutsson)
CLICK HERE TO GET THE FOX NEWS APP
Nationwide, President Donald Trump and Republicans in Congress are also pushing for major tax reforms, including no taxes on tips and overtime pay, and there have also been other income tax cuts floated by the Trump administration.
"I'm excited to get this across the finish line, because I think Montanans know how to spend their money better than the government does," Gianforte said.
Cameron Arcand is a politics writer at Fox News Digital in Washington D.C. Story tips can be sent to Cameron.Arcand@Fox.com and on Twitter: @cameron_arcand
https://www.foxnews.com/politics/gop-governor-rallies-around-historic-proposal-slash-states-income-tax-optimistic