Tax Archives - Page 2 of 3 - Senator Steve Daines

Following Daines’ Work, Tax Incentive Regulations for Carbon Capture, Utilization, and Storage Finalized

January 11, 2021

U.S. SENATE—U.S. Senator Steve Daines announced that the U.S. Treasury Department and Internal Revenue Service (IRS) have issued their final regulations in regards to the 45Q tax credit, which will incentivize the use of carbon capture, utilization, and storage (CCUS) technologies as well as create jobs for Montanans. “These final regulations will help give stakeholders needed certainty to develop and implement CCUS technologies. The 45Q tax credit provides a powerful financial incentive for responsible, innovative, economic, made-in-Montana energy,” Daines said. “I am glad that after years of work, Montana’s energy sector will have true access to this critical incentive for innovative solutions

Daines Bill Providing Permanent Tax Relief for Montana Breweries, Distilleries Signed Into Law

December 29, 2020

U.S. SENATE—U.S. Senator Steve Daines’ bipartisan bill supporting Montana breweries and distilleries across the state was recently signed into law. Daines’ bill, the “Craft Beverage Modernization and Tax Reform Act,” provides permanent tax relief for small craft breweries and distilleries, supporting jobs across Montana. “In Montana, we’re home to some of the best craft breweries in the country. Now, with my bipartisan bill being signed into law, these small businesses will have permanent tax relief which will create jobs across Montana and support our Montana barley growers,” Daines said. Daines’ bill makes the excise tax relief enacted by the “2017 Tax

Daines Statement on President Obama’s Budget Proposal

February 9, 2016

WASHINGTON, D.C. — Senator Steve Daines today released the following statement on President Obama’s budget proposal that once again fails to balance: “President Obama’s budget is full of the same failed policies that has led our country down a path of reckless bloated spending, burdensome regulations and higher taxes. This is President Obama’s eighth consecutive unbalanced budget that only serves to bolster his liberal agenda instead of lifting up hardworking American families. The American people deserve real solutions and a balanced budget – not an unworkable liberal messaging document.” The first bill Daines introduced in both the Senate and House is the Balanced Budget

Daines Slams President Obama’s Plan to Raise Energy Taxes on Montana Families

February 5, 2016

WASHINGTON, D.C. — Senator Steve Daines today slammed President Obama’s proposal to place a $10 tax on every barrel of oil—marking a 30 percent tax on oil at current prices. “This is yet another step in President Obama’s anti-energy agenda and further proof that he’s more concerned about cementing his failed legacy than standing with the hardworking Montana families who will be directly hit by these senseless policies,” Daines stated. “We should be encouraging American innovation and energy independence—not placing more regulatory barriers and financial obstacles to it. I have no doubt that this 30 percent tax will face tough bipartisan opposition in

Montana Delegation Introduces Legislation to Repeal REAL ID

January 12, 2016

U.S. CONGRESS —Senator Steve Daines, Senator Jon Tester and Representative Ryan Zinke today announced that they have formally introduced legislation in the Senate and House repealing federal mandates for driver’s licenses included in the REAL ID Act of 2005. “Montanans have spoken loud and clear: we don’t want REAL ID and we don’t want the federal government infringing on our personal privacy,” Daines stated. “The Repeal ID Act ensures Montanans’ voices are heard and will help strike the right balance that protects our security while also safeguarding Montanans’ civil liberties.” “REAL ID violates the constitutional freedoms of law-abiding Americans and

Daines Works to Provide Tax Relief for Montana Farmers, Small Businesses, Families and Tribes

December 1, 2015

WASHINGTON, D.C. — On “Tax Relief Tuesday,” Senator Steve Daines spoke out on the need to pass bipartisan, comprehensive solutions that permanently protect Montana families, famers and ranchers, small businesses and tribes from burdensome and uncertain tax hikes. Daines emphasized his continued commitment to working toward reforms that end Washington’s habit of passing last-minute extensions of critical tax provisions and instead provide the long-term certainty needed to generate new economic investment and innovation in Montana. “Our tax code is nearly five times as long as the Bible, but with none of the good news,” Daines stated. “Congress needs to provide hardworking small businesses,

Daines Continues Fight to Block Internet Sales Tax

November 30, 2015

Daines, Ayotte, Rubio, Lee urge congressional leaders to oppose so-called Marketplace Fairness Act WASHINGTON, D.C. – On Cyber Monday, Senator Steve Daines urged Senate Majority Leader Mitch McConnell (R-KY) and House Speaker Paul Ryan (R-WI) to reject any legislation to impose onerous Internet sales tax requirements that would hurt online retailers in Montana and across the nation. In a letter to Congressional leadership, Daines joined Senators Kelly Ayotte (R-NH), Marco Rubio (R-FL) and Mike Lee (R-UT) to underscore the detrimental impact that a federal Internet sales tax would have on Montana small businesses that rely on the Internet to grow their businesses

Daines Statement on Double-Digit Obamacare Rate Increases

September 24, 2015

WASHINGTON, D.C. — Senator Steve Daines today released the following statement on the double-digit Obamacare rate increases for approximately 41,000 Montanans: “Despite President Obama’s promises, health care premiums are not as affordable for many Americans as he claimed they would be. These steep premium increases make it harder to have access to affordable healthcare and create severe hardships for thousands of Montanans. It’s money that’s no longer in the pockets of Montanans. We need to ensure health care is affordable and accessible for all Montanans, and that starts with repealing Obamacare and its costly mandates, burdensome taxes and senseless regulations.” The average rate

Daines Secures Much-Needed Reforms for America’s Cybersecurity, Postal Service, Financial Services Sector

July 23, 2015

WASHINGTON, D.C. — Senator Steve Daines today secured provisions to safeguard American’s cyber infrastructure, protect rural postal service, reduce regulatory burdens and help Montana community banks and credit unions better serve their customers. Daines joined the Senate Appropriations Committee today in approving the FY2016 Financial Services and General Government Appropriations Act. Daines secured key provisions to maintain six-day delivery through FY16 and urge the U.S. Postal Service to make good-faith efforts to either renew postal contract station agreements or find suitable alternatives to serve rural areas. In light of the Office and Personnel Management’s failure to report on numerous occasions

Montana Senators Introduce Bill to Make Indian Coal Production Tax Credit Permanent

May 18, 2015

WASHINGTON, D.C. – Montana Senators Steve Daines and Jon Tester today introduced legislation to permanently extend the Indian Coal Production Tax Credit (ICPTC). The ICPTC provides a crucial tax incentive to level the playing field for future development of the tribal coal resources that are currently subject to more regulatory requirements than comparable development on private, state or federal lands. The credit protects the economic viability of existing tribal coal mining projects, which support much-needed tribal jobs and provide a major source of non-Federal revenue for coal-producing tribes. “The Indian Coal Production Tax Credit is an essential tool in Montana

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