Manufacturing investment benefits Montanans

Montana doesn’t have to wait long for our manufacturing business to start booming again. We just need the Senate to pass the Tax Relief for American Families & Workers Act of 2024. The House of Representatives passed this bipartisan tax deal overwhelming; yet in the Senate, it’s gathering dust.

Sens. Steve Daines and Jon Tester would serve Montana well by working to pass the act. It enhances the 2017 Tax Cuts and Jobs Act and continues the full expense provision for research and development investments. Montana’s manufacturers need this catalyst now as it bolsters confidence in domestic investment.

Allowing companies to deduct the total cost of their research and design expenses proved to provide a powerful incentive for Montana manufacturers to pursue new product developments and process improvements. It wasn’t just about reducing taxable income. It fostered an environment where innovation thrived, cutting-edge products were produced, and new high-quality Montana jobs were created.