Permanent Tax Reductions for Small Business in Montana

Missoula, MT (KGVO-AM News) - Montana Senator Steve Daines spoke on Wednesday in Washington, D.C. demanding that the present tax reductions for small businesses be permanent.

“I am a champion for the Main Street Tax Certainty Act,” began Daines. “This is something we must pass because if we do not do this next year, many of the small businesses across America will face about a 30 percent increase in their taxes.”

Daines Insists the Main Street Tax Certainty Act Be Made Permanent

Daines said small businesses desperately need permanent tax relief.

“We need to make this provision in the tax code permanent,” he said. “One of the problems in Washington D.C. is introducing uncertainty based on expert expiring tax provisions, and that creates a lot of problems for businesses across America. They don't know what D.C. is going to do. This is why it's important that we make these tax provisions permanent so these small business owners behind me don’t have to worry more about what's going on in D.C.”

Daines said small businesses will take a big hit if the Main Street Tax Certainty Act is allowed to expire.

Without Help, Taxes May Rise by Up to $6 Trillion on Small Businesses

“If we don't make these provisions permanent if we allow these important provisions to expire in 2025, then according to Richard Ruben, who writes tax policy for the Wall Street Journal, it's a $4 trillion increase in taxes,” he said.

Daines said if Democrats win the U.S. House, the Senate, and the Presidency, there will be another $2 trillion in taxes for small business.

74 Percent of Montana Jobs Come Through Small Businesses

Daines once again emphasized the impact of small business, both in Montana and across the nation.

“74 percent of the jobs, the employment in my state are from small businesses,” he said. “They call them these ‘pass-through’ entities. If you look nationally, 62 percent of the private sector jobs in America are supported by these small businesses. So really, the engine driving this economy, the engine driving employment is small businesses, and it's exactly we're talking about here today.”

Daines is currently the National Republican Senatorial Committee chairman.