Tester Votes To Lower Housing Costs

As part of his continued efforts to lower costs for Montanans, U.S. Sen. Jon Tester, D-Mont., has voted for bipartisan legislation that would put more money in the pockets of families and small businesses through housing, research and child tax credits.

The Tester-backed Tax Relief for American Families and Workers Act would bolster the Low Income Housing Tax Credit program to lower workforce housing costs across Montana, support Montana small businesses and American innovation with an improved research and development deduction, and expand the Child Tax Credit. The legislation failed to pass, 48-44, and Tester was the lone senator from Montana to vote for this bipartisan proposal.

“At a time when Montanans are struggling with rising costs on everything from housing to groceries, we should be focused on putting more money back in the pockets of hardworking families and small businesses – especially as our state faces skyrocketing housing prices that are forcing Montanans out of their communities,” said Tester. “That’s why I’m proud to have voted for bipartisan tax credits that would lower the cost of workforce housing and support Montana families and small businesses, who are constantly innovating to stay ahead of foreign competitors like China. Montanans have told me they want commonsense solutions to help lower costs and support Main Street, and I’ll continue to work with Republicans and Democrats to get the job done.”

“Our state’s supply of affordable housing is a critical tool to ensure all Montanans have the opportunity to live in a home where they can thrive. The Low-Income Housing Tax Credit is the main and most successful source of funding for workforce housing creation in Montana,” said Karissa Trujillo, executive director of Homeword.

“Agriculture is Montana’s number one industry and it’s the backbone of our economy — which is why it’s vital that our family farmers and ranchers have the tools they need to invest in their operations and keep our economy competitive, especially as many family farms are operating on shoestring margins and high interest rates,” said Cyndi Johnson, president of Montana Farm Bureau Federation. “The Tax Relief for American Families and Workers Act will continue several critical tax provisions for Montana’s farmers and ranchers, and I thank Sen. Tester for representing family farm agriculture in the Senate.”