Congressman Denny Rehberg

WASHINGTON, DC - Montana’s Congressman, Denny Rehberg, today joined House colleagues in supporting critical legislation that provides funding for Montana’s small businesses, drug-fighting programs, and financial education services.
“This bill impacts every community in Montana,” said Rehberg, a member of the House Financial Services Appropriations Subcommittee. “We must provide more opportunities for Montanans to open savings accounts, invest in the community, and create jobs. Additionally, we need to provide the tools necessary to get drugs out of our local schools and neighborhoods. This legislation provides vital funds for projects across Montana.”

The 2008 Financial Services Appropriations bill provides funding for the Small Business Administration (SBA), Community Development Financial Institutions Funds (CDFI), and High Intensity Drug Trafficking Areas (HIDTA), among other things. The legislation also includes more than $750,000 for Montana specific projects.

“As I travel all 56 counties, I visit with Montanans who are working hard to create a better life for their families,” said Rehberg. “The funds in this bill will help them do that. As the sole member of the Montana delegation on the Appropriations Committee, I’ll continue to work to ensure we get these essential funds to the President’s desk.”

Highlights of the 2008 Financial Services Appropriations Bill:

· The legislation includes $400,000 for the Montana World Trade Center in Missoula.

· The legislation includes $150,000 for the Montana State University-Tech Ranch Program in Bozeman.

· The legislation includes $200,000 in Funding for Montana Manufacturing Extension Center Bio-Product Business Development in Bozeman.

· The Community Development Financial Institutions Fund received a $45.5 million increase. These funds help support economic development and financial services in disadvantaged and rural communities, in particular Native American communities.

· The Office of Financial Education received $900,000 to help Americans make wiser choices in all areas of personal finance management.

· The legislation includes an increase of $40.8 million for efforts to help taxpayers prepare their tax returns at IRS walk-in sites around the country. There are currently six IRS walk-in sites in Montana.

· The legislation includes an increase of $406 million for catching tax cheats through audits, criminal investigations, and delinquent collection efforts.

· Funding for the High Intensity Drug Trafficking Areas (HIDTA) program was increased by $1.3 million. These funds are used to coordinate drug control efforts among local, state, and Federal law enforcement agencies, providing agencies with equipment, technology, and additional resources to combat drug trafficking and its harmful consequences in critical regions of the United States.

· The legislation includes a $10 million increase for Drug-free Communities Grants.

· The legislation increases funding for the Small Business Administration to $582 million. This includes $100 million for Small Business Development Center Grants, the highest funding ever, and $17 million for the Micro-loan program which provides small loans to start-up, newly established, or growing small business concerns.