Montana is Showing America How to Succeed—Lower Taxes, More Freedom 

When politicians discuss economic growth, the prevailing narrative is that the government needs to intervene for economic growth. Many politicians forward the idea that the government, not the people, must be the primary driver of growth in an economy. However, Montana, amongst other states, is giving America a lesson in economics—that the market is best suited for economic growth and prosperity. 

Montana recently reported a record-low unemployment rate of 3.4 percent, which is 1.3 percent less than the national average. This represents a very strong recovery from the COVID-19 pandemic, when unemployment surged to 4 percent compared to pre-pandemic levels. This level of growth ranks Montana fourth in the nation for the lowest unemployment, representing promising signs for the state. 

Montana did not achieve this through government projects or subsidies, but rather through one simple thing—freedom. Montana has recently passed one of the largest income tax cuts, slashing regulations, and promoting balanced budgets to help encourage economic growth in the state. These measures have helped make Montana one of the fastest-growing states in the nation, attracting inward migration, employers, and new economic projects.  

Governor Greg Gianforte has led the charge to turn Montana around and he has a lot to show for it. Speaking on the economic success, he says that the unemployment numbers “reinforces Montana’s reputation as one of the nation’s best places to live, work, and raise a family.” Gianforte reiterated that “we’re seeing the results of our pro-jobs policies”, and he is right to take a victory lap as Montana’s stock rises.  

In previous years, Montana has enacted the state’s largest income tax cut, saving taxpayers close to $750 million. The state has moved its top marginal tax rate from 5.9 percent to 5.5 percent, in addition to decreasing the tax burden for all Montanans who earn above $20,000 a year. In addition to holding the line on spending, Gov. Greg Gianforte has made long strides to turn around the state’s fortunes after taking office in 2021. 

Montana has successfully flipped the script on politicians who want to raise your taxes to fund their pipe dreams. It has shown the nation that states grow best without burdensome regulations, high taxes, and a government that wishes to pick winners and losers in the economy. For any state in a slump, following Montana’s playbook and letting freedom take the wheel is the way to go.