GREAT FALLS — Business owners met at the Hilton Garden Inn for the Montana Bureau of Business & Economic Research (BBER) update to learn how changing tax and tariff policies could affect their operations.
"They're major changes and sort of the rules of the game," said Jeff Michael, director of the BBER.
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The meeting aimed to inform business owners about what they can expect in the changing economic landscape.
"What I'm concerned about is how it makes it hard for businesses that are planning, and, are hesitant to make long run plans until they understand exactly what the long run taxes and tariffs and situation is," Michael said.
Great Falls business owner Brett Harris attended the meeting seeking additional perspectives on the economic outlook.
"Well, to always get another opinion of what perhaps is coming. I already have my own opinion. Well, and we'll see if it matches theirs. And if not, then maybe join the two together," Harris said.
The changing regulations are forcing businesses to reconsider their strategies.
"Any time tax laws change it, it makes business questionable. You don't know for sure where it's going to go or how it's going to turn out," Harris said.
Michael explained that the tax and tariff changes could impact Montana in multiple ways.
"We have businesses that are using inputs that have had their costs change and their customer relationships have changed. And on the consumer side, you know, there's also impacts on consumers and what they buy," Michael said.
Despite the uncertainties, some business owners at the meeting expressed optimism about the future.
"I am, you know, I feel really great about where we're at and where we're headed. And it's just a matter of time to implement it all and get it rolling," Harris said.
