Tag: Tax

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

“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”

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

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

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

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

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

Daines Statement on Sham Tax Vote

U.S. Senator Steve Daines today issued the following statement regarding the vote on the tax bill in the Senate: “It’s impossible to vote for Joe Biden and Kamala Harris’ spending blowout that led to recordinflation and then claim to support tax relief this close to an election and expect the American people to take you seriously. This is a cynical show vote that has no chance of becoming law. The American people will see through this charade and will hold Senate Democrats accountable in November.”

Daines, Lankford, Crapo Call to Slash Funding to Global Tax Body Supporting Anti-Growth Tax Mandates

Send Letter to Senate Appropriations Committee Urging Suspension of Certain Contributions to OECD U.S. SENATE – U.S. Senator Steve Daines today led Senate Finance Committee Republicans Senator James Lankford (R-Okla.) and Ranking Member Mike Crapo (R-Idaho) to send a letter to the Senate Appropriations Committee requesting the Fiscal Year 2025 Appropriations Bill prohibit any Part II funding or voluntary contributions to the Organisation for Economic Co-Operation and Development (OECD). The OECD leads the anti-American global tax negotiations that will hinder American competitiveness, send U.S. taxpayer dollars to European bureaucrats, and cause American job losses, yet the U.S. unfairly pays the largest

Daines Introduces Bill to Increase Penalties for Illegally Sharing Americans’ Tax Information

U.S. SENATE – U.S. Senator Steve Daines introduced the “Increasing Rightful Sentences Act” or the “IRS Act,” to increase penalties for future unauthorized disclosures of confidential tax information. Introduction follows the news that after a more than two-year-long investigation, a former IRS contractor, Charles Littlejohn, pleaded guilty to stealing and leaking thousands of individuals’ private IRS tax records, including those of a former President, and sharing them with news outlets. Littlejohn was charged with a single count of unauthorized disclosure of tax information through a plea deal negotiated with the Department of Justice despite illegally obtaining and sharing thousands of individuals’ information. “A mere slap-on-the-wrist for illegally releasing Americans’ private tax

Daines: We Must Stand for Life, Prevent Taxpayer Dollars from Funding Abortion

U.S. SENATE —U.S. Senator Steve Daines today fought to prevent taxpayer dollars from funding abortions. Senate Democrats blocked this prohibition from being added to the $1.9 trillion spending package disguised as COVID-19 relief. “Senate Democrats voted to allow billions of taxpayer dollars to be used to fund abortions and voted against applying a 44-year-old prohibition called the Hyde Amendment. We have had five bipartisan COVID relief packages and not one of them included any provisions that would undermine pro-life protections,” Daines said. “Preventing taxpayer dollars from funding abortions is something a majority of Americans agree with. I’m very disappointed to see