What tax reform means for Montana

Jun 19, 2018 | Communications •

“ I don’t know any hardworking Montanans who would agree that keeping more of their hard-earned money is Armageddon or that job creation is Armageddon or that small businesses succeeding is Armageddon or that a lower utility bill is Armageddon.”

Being the sole representative from Big Sky Country in the People’s House hasn’t slowed down Rep. Greg Gianforte (R-MT) one bit. Since the Tax Cuts & Jobs Act was signed into law six months ago this week, Rep. Gianforte has been meeting with people from all walks of life to learn more about how our pro-family, pro-growth agenda are positively impacting Montanans.

On the House floor, he shares several of these stories. More on that ↓ and be sure to also check out his small business tour in May, as well as his Tax Cuts & Jobs Tour in April.

“It is a pleasure for me to share with this body the benefits Montanans are seeing from tax reform. It has been six months since President Trump signed the Tax Cuts & Jobs Act into law, and we are already seeing the results. The benefits of the tax cuts are not a theory. I see it when I meet with Montanans throughout the state.

“Paychecks are growing. Montana businesses are making investments and creating jobs. In fact, since the Tax Cuts & Jobs Act was signed into law, one million new jobs have been created. The national unemployment rate matches the 49-year low, and Montanans’ unemployment rate has dropped. America’s economic growth is exceeding expectations.

“Hardworking Montanans across the state, whether at the UPS facility in Missoula, at Big Sky Wholesale Seeds in Shelby, or at the Billings Flying Service, have told me their paychecks have grown thanks to the tax reform act. The owner of 11 fast-food restaurants throughout Montana told me in Great Falls that he was giving his employees a raise and increasing starting wages for all new employees.

“A teacher in Billings in a public school there told me her monthly paycheck grew by over $130. Mr. Speaker, certain leaders have described the benefits from tax reform, whether bonuses or larger paychecks, as just crumbs. They call them crumbs. Tell that to the teacher in Billings who will keep nearly $1,600 a year more of her hard-earned money.

“According to a recent survey, small business optimism has reached another record high. That confidence is translating into investments and more jobs. The owner of Westland Seed in Ronan reports he is hiring more people because of tax reform. At a roundtable discussion about agriculture in Bozeman, a local farmer and food processor said tax reform contributed to his decision to double his staff from six to 12 employees.

“Senior officials at the Boeing facility in Helena indicate they will add over 20 new employees this year. Montana small businesses credit tax reform for their decisions to expand. At a roundtable with women small business owners in Bozeman, one entrepreneur said the new tax policies were a big part of her decision to launch two new businesses this year.

“Other Montana businesses are making investments thanks to tax reform. Loenbro, a Great Falls industrial construction and manufacturing firm that employs more than 600, said the tax reform immediately added 15 percent to their bottom line. Tax reform is leading them to increase worker benefits, enhance training programs, and invest in construction equipment that will create more jobs.

“Billings Flying Service credits the full expensing provision for its decision to purchase new equipment. The company is also investing in new research and development for enhanced firefighting equipment. In addition to larger paychecks, increased investment, greater small business confidence, and more good-paying jobs, more than 87 million utility customers are seeing lower energy prices. Utility companies cite tax reform as the reason they are reducing their rates. Montanans are among those benefiting.

“According to recent reports, NorthWestern Energy and Montana-Dakota Utilities have proposed cutting their rates thanks to the new tax law. Mr. Speaker, certain leaders in this Chamber warned that the tax cuts would be Armageddon. I don’t know any hardworking Montanans who would agree that keeping more of their hard-earned money is Armageddon or that job creation is Armageddon or that small businesses succeeding is Armageddon or that a lower utility bill is Armageddon. Tax reform isn’t producing crumbs. Tax reform isn’t leading to Armageddon. Mr. Speaker, tax reform is working in Montana.”

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