Montana Governor’s Three Vetoes Include Social Security Tax Bill
HELENA, Mont. (AP) — Montana's governor has vetoed three bills including an increase in Social Security exemptions.
The Independent Record reports that Democratic Gov. Steve Bullock vetoed the bills Thursday before the state Legislature's Easter break.
Bullock says in his veto letter that the Social Security bill would be an immediate $3 million hit to the current fiscal year budget and cause a $36 million reduction in state funding over the next budget cycle.
Republican Sen. David Howard's bill would have nearly doubled Social Security exemptions for some filers.
Montana residents can now exempt $25,000 of their Social Security income, which would have increased to $30,000 under the bill. The exemption would have risen from $32,000 to $60,000 for individuals filing joint returns and from $16,000 to $30,000 for married people filing separately.
Information from: Independent Record, http://www.helenair.com