Income taxes slashed as states seek to stay competitive

At least six states cut rates this year, and more could follow.
Montana Gov. Greg Gianforte (R) discusses the tax cut package he signed, alongside legislators at the state Capitol on March 13, 2023. (Courtesy of the Montana governor’s office)

At least six states have slashed income tax rates this year — and more could follow — as state leaders seek to return excess money to taxpayers and outdo their neighbors.

“Other states are cutting income taxes. And we must do the same to stay competitive,” Montana Gov. Greg Gianforte (R) said last month, before signing six bills that comprised the largest tax cut in Montana history.

Stay informed
Subscribe to keep reading.

Sign up today to get the latest state new at your fingertips and in your inbox.