Tax Archives - Senator Steve Daines

Daines in Senate Finance Committee: CBO Is “Getting It Wrong” on Republicans’ Tax Cut Package

June 12, 2025

U.S. SENATE – U.S. Senator Steve Daines today spoke with Treasury Secretary Scott Bessent in a Senate Finance Committee hearing. The two discussed the importance of passing the tax cut package, the next steps in combatting global trade barriers, and the need to halt the flow of fentanyl precursors from China. Watch the full exchange HERE. Daines opened by calling out the Congressional Budget Office for inaccuracy: Daines: Secretary Bessent, good to have you here today. I can’t help it, as I was listening to my colleagues across the dias here, as you reminded them… you can’t be shoveling trillions of dollars of

Daines on CNN: The President was Very Clear: We Must Prevent the Largest Tax Increase in American History

June 5, 2025

U.S. SENATE – U.S. Senator Steve Daines today joined CNN to discuss how crucial it is to pass the Big Beautiful Bill. Watch the full interview HERE. Daines emphasized the need to prevent the largest tax increase in America’s history: The President was very clear that we simply must prevent the largest tax increase in American history, which is coming if Congress does not act. Number two, I think really the growth issues. What can we do to grow the economy? Because when we grow the economy wages increase, and we’ve also got the issue of Chinese competition. There are provisions in

Daines on Varney & Co: We Need to Make Trump’s Tax Cuts Permanent

March 28, 2025

“One of the number one complaints I hear from businesses is the uncertainty of the tax code. Let’s make it permanent” WASHINGTON, D.C. – U.S. Senator Steve Daines today joined Fox Business’ Varney & Co, where he discussed the need to make President Trump’s tax cuts permanent and prevent a massive tax hike from hitting Americans. Watch the full interview HERE. Daines emphasized that a $4 trillion tax increase is on the line: The reason they need to be made permanent is because tax cuts are a means to an end, and that’s economic growth, that’s wage growth. We’ve got to remove the uncertainty of Washington.

Daines Statement after Meeting with President Trump on Making Tax Cuts Permanent

March 13, 2025

U.S. Senator Steve Daines today released the following statement after his meeting at the White House with President Trump and Republican members of the Senate Finance Committee: “President Trump made a promise to the American people that he would reverse Biden’s destructive economic policies and restore prosperity in our country. One thing is clear: he’s delivering on his promises. We’re united in our efforts to make President Trump’s tax cuts permanent so that the American people never again have to face a multi-trillion-dollar tax hike. I look forward to fighting every step of the way until we cross the finish

Daines, Thune, Barrasso, Crapo Lead Finance Committee Republicans in Vowing to Oppose Any Short-Term Tax Package

February 13, 2025

“The expiring provisions of the Tax Cuts and Jobs Act must be permanent and not sunset” U.S. Senator Steve Daines (R-Mont.), Majority Leader John Thune (R-S.D.), Majority Whip John Barrasso (R-Wyo.), Finance Chairman Mike Crapo (R-Idaho) and Senators Ron Johnson (R-Wisc.), James Lankford (R-Okla.), Roger Marshall (R-Kans.), Marsha Blackburn (R-Tenn.) and Thom Tillis (R-N.C.), members of the Senate Finance Committee, today sent a letter to President Donald Trump vowing to oppose any tax package that fails to make pro-growth and pro-family tax provisions in the “Tax Cuts and Jobs Act” permanent. “You were elected with a mandate to do big things. One

Daines on CNBC’s Squawk Box: “Greatest Thing We Can Do is Make Trump Tax Cuts Permanent”

February 13, 2025

Daines Led Letter to Trump Vowing to Oppose Any Bill Failing to Make TCJA Provisions Permanent U.S. Senator Steve Daines today joined CNBC’s Squawk Box to discuss the letter he led to President Trump committing to oppose any tax package that only provides temporary relief from the impending tax hikes. Watch Daines’ interview HERE. Daines on the Need for Tax Permanency: The single most important thing Congress can do to keep this economy growing is to make the Trump tax cuts of 2017 permanent. Small businesses, corporate America face a $4.3 trillion tax increase coming if we don’t act, and that starts next year. Permanence

Daines, Leader Thune, Republican Colleagues Introduce Bill to Give Small Businesses Permanent Tax Break

January 23, 2025

U.S. SENATE – Amid ongoing discussions on the permanency of President Trump’s tax cuts, U.S. Senator Steve Daines (R-Mont.), Majority Leader John Thune (R-S.D.) and 33 Republican Senators introduced the “Main Street Tax Certainty Act” to make the 20 percent pass-through business tax deduction permanent. Should these tax cuts expire, small businesses will face an immediate and massive tax hike. “As the son of a contractor, I’ve seen firsthand the hard work it takes to keep a small business flourishing- especially as Americans are still grappling with the effects of Joe Biden’s inflation. It’s absolutely crucial that we pass this legislation to prevent a 20

Daines, Trump Treasury Nominee Talk Tax Permanency, Support for Montana Small Businesses at Senate Finance Hearing

January 16, 2025

U.S. Senator Steve Daines today discussed the importance of certainty and permanency of the tax code and the small business deduction with President Trump’s Treasury Secretary nominee Scott Bessent. Watch Daines’ and Bessent’s full exchange HERE. Daines: Chairman, thank you. Mr. Bessent, good to have you this morning. I think what we’re seeing here in this committee is we really do have a divide between two very different philosophies about how to go forward and what’s best for the American people in this economy and what’s best for global competitiveness. I remember sitting right in this chamber as we were debating whether or

Daines Calls for Permanent Tax Break for Small Businesses

September 25, 2024

U.S. Senator Steve Daines today was joined by The National Federation of Independent Businesses (NFIB) President Brad Close for a press conference on the importance of stopping the massive tax hike on small businesses. They, along with small business owners called for passage of Daines’ “Main Street Tax Certainty Act,” which makes the 20 percent tax deduction for small businesses permanent. Download Daines’ remarks HERE. “Well, thanks for coming out today. I’m just honored and thrilled to be standing here with so many small business owners from across America. “I grew up as the son of a contractor. Mom and dad had a small home-building business

New Study Confirms Senator Daines, Rep. Smucker Small Business Tax Deduction Supports Millions of American Jobs, Spurs Economy

September 9, 2024

U.S. CONGRESS – U.S. Senator Steve Daines (R-MT) and Congressman Lloyd Smucker (R-PA-11) today shared a new study from Ernst and Young (EY) highlighting the economic activity supported by their small and family-owned business tax deduction. The Section 199A deduction provides a 20 percent deduction for pass-through businesses, allowing these businesses to reinvest their hard-earned capital, increase wages and hire more employees. The new study found that 2.6 million jobs and $325 billion of GDP are supported by the deduction. Daines and Smucker introduced the “Main Street Tax Certainty Act” to make this 20 percent pass-through business tax deduction permanent. “It’s no surprise that when we provide our small businesses

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