U.S. SENATE – This week, several Montana leaders, organizations and groups sent letters and statements to Montana’s senators raising concerns over the Democrats’ tax and spend bill.
“This partisan legislation would fail to solve the inflation crisis that is crushing Montana families and small businesses, recklessly raise takes during a recession, and harm Montana’s way of life…It is simply wrong-headed to raise taxes by hundreds of billions of dollars – including on the middle class – just as many economists believe our nation has entered a recession,” said Representative Matt Rosendale. Read the full letter HERE.
“…the methane fees in the proposed “Build Back Better Act,” the “Inflation Reduction Act”, will do nothing more than raise energy prices for those companies that can pass it on and cause other companies to make financial decisions that will be detrimental to Montana jobs,” Alan Olsen, Executive Director of the Montana Petroleum Association said. Read the full letter HERE.
“In my opinion, if this act were to pass it would not reduce inflation, but actually increase inflation and add unnecessary financial burdens on the Montana energy industry and small businesses, would directly attack the Montana natural resource industry, especially our coal, mining, oil/gas refining and utility sectors, and would create tax increases, which would be paid for by all the hardworking Montana families and small businesses, including the ag sector,” Jim Atchison, Executive Director of the Southeastern Montana Development Corporation, said. Read the full letter HERE.
“This new tax bill could have a crippling effect on our coal mines as well as our power generation facilities. I am aware that is precisely what this administration wants, however, with the recent developments with the Russia/Ukraine war, we are proving to the world we cannot survive without fossil fuels. This bill will cause energy prices to increase, as well as, the price of every commodity made with coal or petroleum. It doesn’t just stop with fossil fuels. Mining for raw materials to produce wind turbines and solar panels will also be affected. I believe this will add to inflation rather than reduce it,” said Doug Martins, Rosebud County Commissioner. Read the full letter HERE.
“The Montana Chamber of Commerce joined other business advocacy organizations across the country in signing letters through the National Association of Manufacturers (NAM) and the US Chamber of Commerce expressing concern for changes in tax policy and increased taxes on business… Additionally, the sudden emergence and rush to pass this legislation has caught all businesses and business advocacy organizations by surprise. Good legislation requires input from affected parties, thoughtful consideration, and analysis to evaluate the intended and unintended consequences. Rushing to vote on this legislation fails to provide opportunity to evaluate any deals that may have been struck and denies a full understanding of the consequences of raising taxes or significant changes to tax policy,” said Todd O’Hair, President and CEO of the Montana Chamber of Commerce. Read the full letter HERE.
“We are asking you to reject this legislation as it will do nothing to lower inflation. The legislation as proposed will raise taxes on businesses, unleash IRS agents to harass small business who can neither afford the cost of higher taxes nor expensive audit related costs. These costs will end up being passed on to customers of these businesses so I ask you, “How will this lower inflation?” Small businesses like ours have seen costs increases of between 50 and 100 percent for many of the inputs we use. Further tax increases will serve as a disincentive to reinvest what meager profits we have back in to the business. Theses tax increases will make it less attractive for businesses to put capital to work in the United States,” said Barry Hedrich, owner of 2 Basset Brewing in White Sulphur Springs, MT. Read the full letter HERE.
“Generally, we are unsure how more government spending and increasing taxes slows inflation. However, we are also very concerned about certain provisions that could have significant negative impacts on recreational access to public lands,” said Scott Jones, Vice President of One Voice, Fred Wiley, ORBA President and CEO, Rodger Wright, President of the United Snowmobile Alliance, and Steve Egbert, Chair of the United 4 Wheel Drive Assoc. Read the full letter HERE.