Troy Downing

As an @NRA Life Member, I’m proud to have the NRA’s endorsement. I’ll keep fighting to protect our Second Amendment rights and the freedoms Montana’s hunters, sportsmen, and law-abiding gun owners cherish. https://t.co/V7u6hwAiWx

🇺🇸💪

I just sent out the most recent edition of the Downing Dispatch! If you didn't get it direct to your inbox, you can catch up here 🔽 https://t.co/KL1fKBWjB4

My bipartisan Floodplain Enhancement and Recovery Act took a major step forward after companion legislation passed the Senate. The bill would cut unnecessary FEMA red tape and make it easier for local communities to move critical conservation projects forward while maintaining flood safety standards. https://t.co/HuQedg2NZ7

In rural Montana, access to reliable emergency medical care is critical. I’m proud to announce $8.7 million through the Rural Health Transformation Program to strengthen health care across our state. This funding will provide 79 EMS agencies with new ambulances and equipment, giving first responders the tools they need to better serve their communities. I’m proud to have supported the Working Families Tax Cuts Act, which invested in rural health care and helped make this important funding for Montana possible. https://t.co/KXuZjmG5Sk

WASHINGTON, D.C. – Congressman Troy Downing’s (MT-02) bipartisan Floodplain Enhancement and Recovery Act took a major step toward becoming law this week after the U.S. Senate passed companion legislation led by Senators Steve Daines (R-MT) and Patty Murray (D-WA). The legislation cuts red tape for ecosystem restoration projects in regulated floodways by creating a streamlined approval pathway for low-risk projects while maintaining flood safety standards. Under current Federal Emergency Management Agency (FEMA) policy, any proposed development in a regulated floodway must prove that it will not increase the area’s base flood elevation (BFE). This requirement, known as the “No-Rise Rule,” has created unintended consequences for conservation work in Montana and across the country. Many conservation districts have been forced to scale back, delay, or abandon stream restoration projects because of the cost of the required engineering analysis. The Floodplain Enhancement and Recovery Act amends the Homeowner Flood Insurance Affordability Act of 2014 to allow communities to permit ecosystem restoration projects in regulated floodways if a professional engineer certifies that the project will not raise the base flood elevation by more than one foot and that no insurable structure or critical infrastructure is located in an area that would be adversely affected by the increase. This would allow qualifying conservation projects to avoid the traditional, drawn-out FEMA approval process. The bill is supported by the National Association of Conservation Districts, among other organizations. “I applaud Senators Daines and Murray for getting this commonsense, bipartisan bill through the Senate. FEMA’s No-Rise Rule is blocking critical conservation work in Montana and across the country,” said Congressman Downing. “My bipartisan bill cuts needless bureaucracy and puts more power in the hands of local communities to restore and protect our lands. I’m grateful for the strong bipartisan support behind this effort, and I urge my House colleagues to take it up quickly and send it to the President’s desk.” “This is huge news for Montana. Critical ecosystem restoration projects across our state have been abandoned due to FEMA’s onerous and costly ‘No Rise’ rule. This commonsense, bipartisan bill will reduce unnecessary burdens on important conservation and restoration work, while continuing to keep our communities safe from flooding, and I’m glad to see it pass the Senate. Next step: the U.S. House!” said Senator Daines. Read the billHERE.

WASHINGTON, D.C. – Congressman Troy Downing (MT-02) recognized Ty Neal as a "Montana Innovator" for the month of September. Conducted in partnership with the Montana 250th Commission, the initiative highlights outstanding Montanans ahead of America's 250th anniversary. Each month features a different theme, with September recognizing achievements in education and academia. Read the full recognition below: "This month, I am proud to recognize Ty Neal, an agricultural mechanics teacher at Denton Public Schools who is preparing Montana students for careers in the skilled trades. Ty was recently named a winner of the Harbor Freight Tools for Schools Prize for Teaching Excellence, a national honor that reflects the time, skill, and dedication he brings to his classroom and shop. Ty gives his students the opportunity to build real, hands-on skills they can carry with them for the rest of their lives. The skilled trades are essential to Montana. They keep our equipment running and help keep our communities strong. Every student who leaves Ty's classroom with practical experience and confidence is a reflection of his work. He is not simply teaching students how to use tools. He is helping give them a pathway to a good-paying job and a future here in Montana. This award will also bring new resources to Denton's skilled trades program, creating even more opportunities for students in the years ahead. Montana needs teachers like Ty Neal, and Denton Public Schools is fortunate to have him. It is my honor to recognize Ty as a Montana Innovator who represents the very best of education in our state."

WASHINGTON, D.C. – This week, the U.S. Senate passed H.R. 1190, Congressman Troy Downing’s bipartisan Expanding Access to Capital for Rural Job Creators Act. The legislation would help rural small businesses overcome barriers to accessing capital. The bill updates the Securities Exchange Act of 1934 by requiring the SEC’s Office of the Advocate for Small Business Capital Formation to report annually on the unique challenges rural businesses face when seeking investment. These reports will give Congress better information as it considers ways to improve access to capital for rural job creators. “Rural small businesses are essential to communities across Montana, but too many still face unnecessary barriers when trying to access capital,” said Congressman Downing. “I’m proud of our legislation, which will help make sure rural businesses are no longer overlooked when Congress considers how to expand access to capital and support job creation.” "Rural small businesses shouldn’t have to work twice as hard just because of their ZIP code,” said Congresswoman Janelle Bynum (OR-05), the bill’s co-lead. “The Senate passing this bill gets us one step closer to changing that. Rural entrepreneurs have the ideas and the hustle. They deserve a fair shot to grow them into something bigger." Senator John Kennedy (R-LA.) led the U.S. Senate companion bill to passage. “Rural small businesses are the backbone of many communities across America, but too many face challenges accessing capital. I’m glad the Senate passed our bill to make sure Congress understands those challenges and help rural job creators grow their businesses, create jobs and serve their communities,” said Senator Kennedy. Read the bill HERE. Background: The SEC’s Office of the Advocate for Small Business Capital Formation is required to identify problems that small businesses face when securing access to capital and submit an annual report to Congress. Currently, the Office’s list of applicable entities are minority-owned, women-owned, and disaster-stricken small businesses. This legislation would require the SEC’s Office of the Advocate for Small Business Capital Formation to add rural small businesses to its list of applicable entities.

Thank you to the Montana Association of Counties for inviting me to speak at your 117th Annual Conference yesterday. I cannot do my job in Washington without hearing directly from you about the needs of your communities. I appreciate your partnership and the opportunity to spend time with you.

For 50 years, the Hyde Amendment has stood for a simple principle: tax dollars should not fund abortion. I’m especially grateful for the gift of life. I was born to an unwed teenage mother who chose life, and I will never take that blessing for granted. I’m proud to stand for policies that protect the unborn.

BIG NEWS: The Senate passed my bipartisan Expanding Access to Capital for Rural Job Creators Act. Rural small businesses deserve a fair shot at securing the capital they need to grow and create jobs. Now, it’s headed to the President’s desk. Read the full release below 👇 https://t.co/mHiKB5bR64

@NatResources is working hard for MT and the nation!

Jonathan from MTN news wanted to do something different for a candidate spotlight this cycle. So, I took him to the top of Mount Helena. Beautiful morning. Jonathan, sorry if I made you work for this one. :) https://t.co/l7awJNJt2s

According to the National Association of Manufacturers, the manufacturing provisions in the Working Families Tax Cuts support roughly 6 million jobs and contribute $1.1 trillion to our economy. They also put $540 billion back into workers’ pockets. That's the power of American-made.

Earlier this month, I had a great discussion with @SecretaryTurner about making housing more affordable, implementing the 21st Century ROAD to Housing Act, and increasing homeownership opportunities in Indian Country. I appreciate his partnership as we work to reduce barriers and give more families a chance to own a home.

WASHINGTON, D.C. – President Trump signed H.R. 7250 into law, Congressman Troy Downing’s legislation extending authorization for the Fort Peck Reservation Rural Water System through 2028. The law allows critical water infrastructure projects across northeastern Montana to continue moving forward. The Fort Peck Reservation Rural Water System Act of 2000 was enacted to provide safe and reliable municipal, rural, and industrial water through two interconnected systems: the Assiniboine and Sioux Rural Water System and the Dry Prairie Rural Water System. Together, these systems serve tribal and non-tribal communities across Roosevelt, Sheridan, Daniels, and Valley counties. H.R. 7250 extends the Bureau of Reclamation’s authority to support construction of essential water infrastructure serving the Fort Peck Reservation and surrounding communities through December 2028. "I’m proud that the President has signed my bill, H.R. 7250, into law. This legislation will help keep critical water projects moving forward and provide greater certainty for families and communities across northeastern Montana," said Congressman Downing. "Reliable water infrastructure is essential to the future of this region. I’m grateful to the Montana delegation for working together to get this bill through Congress and signed into law.” “This is a major win for the Treasure State. Montanans should never have to worry about whether or not their water is safe to drink. Now that President Trump has signed our bill into law, we’ll be able to continue critical construction on water infrastructure on the Fort Peck reservation and throughout the northeast region. I’m grateful for everyone who helped get this bill across the finish line and look forward to seeing the impacts this will have for the health and future of our communities,” said Senator Steve Daines. “Clean, reliable water is a basic necessity, and Montanans in our rural and tribal communities deserve nothing less. I’m proud to see this commonsense bill cross the finish line, and I thank President Trump for signing it into law so we can keep critical water projects moving forward in Fort Peck and across northeast Montana,” said Senator Tim Sheehy. House Committee on Natural Resources Chairman Bruce Westerman praised the passage of H.R. 7250 and Congressman Downing’s work to strengthen water infrastructure in northeastern Montana. “Where reliable water flows, opportunity and prosperity follow. H.R. 7250 reauthorizes the Fort Peck Reservation Rural Water System, helping ensure families, farmers, and businesses in northeastern Montana continue to have access to dependable water supplies," said Chairman Westerman. “I commend Rep. Downing for his commitment to strengthening critical water infrastructure and supporting Montana’s future.” Read the bill HERE. ###

Big news for northeast Montana: my bill to reauthorize the Fort Peck rural water system is now law. With @POTUS’ signature, these projects can keep moving and communities across the region have more certainty that critical water infrastructure will be completed. Proud to help get this across the finish line. https://t.co/R25JhjokVL

I just sent out the most recent edition of the Downing Dispatch! If you didn't get it direct to your inbox, you can catch up here 🔽 https://t.co/QT8w6dNQEP

Fly out Thursday after a productive week in Washington. I met with ag and education groups, and we sent the Crow Tribe Water Rights Settlement Amendments Act to the President’s desk. Votes may have been canceled, but the work for MT-02 never stops. https://t.co/HdnC5Ill6E

Yesterday, I met with the MT AgBiz Association to hear directly about the issues facing Montana agriculture and discuss real solutions. We also talked about getting Farm Bill 2.0 across the finish line to support the industry that remains the cornerstone of MT’s economy. https://t.co/Bum9KjVZAn

WASHINGTON, D.C. – U.S. Congressman Troy Downing penned an op-ed in the Washington Examiner highlighting his new bill, H.R.9574, The Informed Investor Access Act. The legislation would break down barriers to capital markets by creating a new route to accredited-investor status for a specific transaction when an individual receives personalized investment advice or a recommendation from a registered investment adviser or registered broker-dealer. Read the Washington Examiner op-edHERE. September 22, 2026 Are some people simply not rich enough to build the American dream? America’s capital markets are the most dynamic in the world. They are ripe with opportunity. Our nation’s business ecosystem is better because of them. The American dream of entrepreneurship and prosperity is possible through our robust capital markets. Too many people are locked out of important parts of those markets for one simple reason: They are not rich enough. Most investors can only directly invest in publicly traded companies, which make up less than 1% of all U.S. businesses. They have virtually no access to nonpublic, or private, investment opportunities. In other words, they have no access to investments that help the rich get richer. The number of publicly available stock investment options has declined by nearly 50% since the 1990s, which means fewer investment opportunities for hardworking Montanans. That is the effect of the outdated “accredited investor” framework. Publicly traded companies are subject to the highest degree of disclosure requirements from the Securities and Exchange Commission. The strict requirements, along with their direct costs to the investor, create a transparent but also very expensive option, which is why everyone has access. Nonpublic companies are not subject to these same rules, so the federal government has long held that only “sophisticated” investors are allowed to participate in these markets. The problem is the false equivalency between sophistication and wealth. This foreclosure on access by anyone but the wealthiest among us is one reason the rich get richer and ordinary people are often left behind. Under current SEC rules, anyone can access the private markets by being an accredited investor, which is defined by having more than $1 million in net worth, not including one’s residence, or by earning more than $200,000 per year for two consecutive years. The rules include other qualifications, but for most people, wealth remains the gatekeeper. This leaves many “ordinary” people on the sidelines — many of whom understand the risks of investing and have built strong portfolios or financial plans either independently or with a financial adviser. A high net worth does not automatically make someone a knowledgeable investor, just as falling below an arbitrary threshold does not make someone incapable of understanding risk. In other words, a person who inherits $1 million but has no idea about how money works may qualify, but someone with a doctorate in economics with only $100,000 to invest is generally not qualified. I have seen our capital markets from nearly every angle. I began my career as an educator and research scientist before founding a tech company that later merged with Yahoo. I went on to build multiple businesses, structure alternative investments, and raise capital through independent broker-dealers. Later, as Montana state auditor and commissioner of securities and insurance, I served as our state’s chief securities regulator. Today, I serve on the House Financial Services Committee. Those experiences taught me that capital formation and investor protection should not be seen as competing goals. Well-designed rules can advance both. That is why I introduced the Informed Investor Access Act. My legislation would create a new route to accredited-investor status for a specific transaction when someone receives personalized investment advice or a recommendation from a registered investment adviser or registered broker-dealer. This is not an invitation to throw open the doors without guardrails. Registered investment advisers are bound by a fiduciary duty, and broker-dealers must comply with Regulation Best Interest. These professionals are required to consider a client’s financial circumstances and risk tolerance when making recommendations. The current framework creates a self-reinforcing barrier: Often, people are required to meet the wealth threshold to access investments that may help them build wealth. Meanwhile, entrepreneurs in private businesses lose potential sources of capital that could help them innovate and expand. Access must improve on both sides of the marketplace. I recently led a congressional letter urging SEC Chairman Paul Atkins to finalize the commission’s Registered Offering Reform proposal. Among its provisions, the proposal would remove duplicative state registration and qualification reviews for certain public companies, reducing unnecessary costs while maintaining disclosure and anti-fraud protections. This matters across the country, but especially in rural states such as Montana. Entrepreneurs and growing businesses should not be forced to move their business to a major financial center to find capital. Likewise, Montanans who work, save, and plan responsibly should not be excluded from considering an investment simply because they don’t meet the wealth threshold. Modernizing these rules does not guarantee returns, eliminate risk, or make every investment suitable. Nor should it. These are investments without training wheels, and they should be carefully scrutinized. Giving everyday people access gives them an opportunity to make informed choices with professional guidance, while allowing businesses to reach a broader pool of potential investors. Building wealth should not be reserved for those who were given a head start or who are already wealthy. Congress and the SEC can preserve strong protections while replacing outdated barriers with standards that recognize individual circumstances. This is how we strengthen capital formation in America and keep America’s markets the strongest in the world.

WASHINGTON, D.C. – Today, the Crow Tribe Water Rights Settlement Amendments Act of 2025, passed the U.S. Senate. Senator Steve Daines spearheaded the bill in the Senate, while Congressman Troy Downing championed it in the House of Representatives. The legislation updates the Crow Tribe Water Rights Settlement Act of 2010 to provide the Crow Tribe with greater flexibility to develop water infrastructure and keep long-overdue projects on the reservation moving forward. The original settlement ratified the water rights compact between the Crow Tribe and the State of Montana. It authorized the Bureau of Reclamation to rehabilitate the Crow Irrigation Project (CIP) and construct a Municipal, Rural, and Industrial (MR&I) water system. S. 240 modernizes that framework by converting the MR&I component from a single centralized project into a more flexible, localized approach. Instead of one large system, the legislation allows the Tribe to develop smaller water and wastewater projects tailored to the needs of individual communities across the reservation. In addition, the legislation extends the Crow Tribe's exclusive right to develop a hydropower project at the Yellowtail Afterbay Dam for five years, through 2030, helping support future energy development on the reservation. “Today, S. 240, the Crow Tribe Water Rights Settlement Amendments Act of 2025, passed the U.S. Senate. This legislation gives the Crow Tribe greater flexibility to develop critical water infrastructure and keep long-overdue projects moving forward on the reservation. We must continue honoring our commitments to the Crow Tribe and strengthening Montana’s water infrastructure," said Congressman Downing. "Thank you to Senator Daines for leading this bill in the Senate and sending it to the President’s desk." “This bill is a necessity for the Crow Tribe and surrounding communities and will ensure the tribe has the resources they need to deliver safe, reliable access to clean water to the reservation and complete a hydropower project to bring new baseload generation to the region. I’m grateful for Representative Downing’s work to get this passed in the House and am thrilled to see it pass the Senate- let’s get it across the finish line!” said Senator Steve Daines. “The federal government must ensure tribal water settlements work as intended. S. 240 gives the Crow Tribe greater flexibility to complete critical drinking water and irrigation projects while extending its exclusive right to pursue hydropower development at Yellowtail Afterbay Dam. I commend Senator Daines and Rep. Downing for championing a practical solution that strengthens tribal self-determination and supports long-term economic growth on the Crow Reservation,” said House Committee on Natural Resources Chairman Bruce Westerman. Read the bill HERE. ###

Proud to partner on this effort and get it across the finish line. This is a win for clean water access and for keeping critical infrastructure projects moving forward. I look forward to @POTUS signing it into law.

Montana’s schools are critical to our state’s continued success and future growth. Today, I met with the Montana School Boards Association to celebrate its 100th anniversary and discuss the unique education needs of communities across MT-02. https://t.co/CXMicWI9vL

If you inherit a million dollars, the SEC says you’re qualified to invest in private markets. But an economics Ph.D. who falls below an arbitrary wealth threshold may be locked out. That doesn’t make sense. I wrote in the @dcexaminer about why it’s time to modernize the accredited investor rules and expand opportunity while protecting investors. https://t.co/z9TQGGGOZD