Tester proposes tax relief for homeowners, first-time buyers
2006-10-05
Source: Helena Independent Record
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rss feedState Sen. Jon Tester, D-Big Sandy, in front of the James and Catherine Bentler home in Billings, Wednesday outlined federal tax proposals to help homeowners, college students and families.
Tester is the Democratic candidate for the U.S. Senate opposing Sen. Conrad Burns, R-Mont., who is running for his fourth term. Libertarian Stan Jones of Bozeman is also on the Nov. 7 general election ballot.
Tester said his "Real Tax Relief" plan would provide targeted property tax relief from the federal government, "an idea that has never been tried in Washington." He said the importance of the idea is that it is fair and benefits Montana families and homeowners.
"Montana needs a tax plan that helps regular folks get ahead," Tester said. "It needs to be easier, not harder, to buy homes and pay for college."
He said most Montanans cannot take advantage of homeowner deductions and see no relief from skyrocketing property taxes. His plan would give a $1,000 tax deduction each year to homeowners. Additionally, he would give first-time home buyers a $1,500 tax credit to offset the cost of buying a single-family home.
In an effort to make college affordable, he would provide students and their families who pay for college deductions of up to $10,000 a year, or a refundable credit of up to $3,000 a year, for college tuition.
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