The income tax cut Gianforte proposed would extend his prior income tax reductions by lowering the state’s top-bracket rate from 5.9% to 4.9% and modestly expand a tax credit benefiting lower-income working families. According to the Legislative Fiscal Division, the top-bracket rate cut would reduce state tax collections by about $350 million a year and the tax credit for lower-wage earners would reduce their taxes by about $20 million a year.