Montana Governor Steve Bullock yesterday signed into law the Montana Earned Income Tax Credit (HB 391) to help working Montana families keep more money in their pockets and get ahead.
“This is a big deal for 80,000 Montana working families that want to get ahead and stay ahead,” said Governor Bullock. “Montana’s economy is stronger if everyone has the opportunity to succeed, and by ensuring tax fairness for hard-working Montanans, we will continue to grow our state and local economies.”
The Montana Earned Income Tax Credit passed with bipartisan support and will provide an additional tax credit to low- and moderate-income workers of up to 3% of the federal earned income tax credit. Beginning in 2020, nearly 80,000 Montana families that earn income through work will be eligible to receive this tax credit through their tax return.
Montana joins 26 other states in implementing an earned income tax credit (EITC). The federal EITC and state EITCs have been effective anti-poverty measures in boosting the income of workers to help meet basic needs and in lifting families out of poverty, particularly children. For more information on the EITC, visit irs.gov.