State of Montana Newsroom
Montana Surges Into Top 10 for Fiscal Health Under Gov. Gianforte’s Leadership
Jumps from 22nd to 8th nationally in four years
HELENA, Mont. – Governor Greg Gianforte today announced that Montana’s fiscal health has surged into the top 10 states nationally under his leadership, rising from 22nd in 2021 to 8th in 2025.
“Since taking office, we’ve gotten our fiscal house in order and created an environment that encourages investment, innovation, and opportunity,” Gov. Gianforte said. “Through our responsible budgeting and fiscally conservative policies, we’ve been able to pay off the state debt, save for a rainy day, and return money back to the hardworking Montanans who earn it.”
In the 2025 Financial State of the States report produced by Truth in Accounting, a non-partisan think tank founded in 2022 to promote transparency in government financial reporting, an analysis was conducted on the fiscal health of all 50 states. According to the report, Montana rose in the rankings due to the significant surplus, stating, “Montana’s finances improved in 2024 as revenues exceeded expenses.”
The report continued, “The state also paid off its remaining bonds in 2024, reducing future borrowing needs.” In 2023, Gov. Gianforte signed a bill into law to pay off the state’s general obligation debt, making Montana debt-free and saving Montanans $40 million over a period of two years. The increase in Montana’s fiscal health occurred during the same period the governor has championed returning money back to hardworking Montanans.
In the same year, the governor secured the largest tax cut in state history, delivering $500 million in permanent income tax relief, income tax rebates of up to $1,250, and $280 million in property tax relief to Montanans. In 2025, Gov. Gianforte continued to deliver historic tax cuts, delivering over $750 million in permanent income tax cuts to Montanans at all income levels. Since taking office, the governor has cut the state’s top individual income tax rate by nearly 20 percent.
In the 2025 session of the Montana State Legislature, the governor continued to limit the growth of government spending to less than 1 percent, ensuring that state spending does not outpace the rate of inflation.
In addition to historic tax cuts and making Montana debt-free, the governor and legislature have invested to stabilize the budget and mitigate against shortfalls through the Budget Stabilization Fund. Thanks to strong investments, Montana's rainy day fund has strengthened from 4.5 percent of expenditures in 2023 to 16 percent in this biennium.
View the 2025 Financial State of the States report here.
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