Craft Brewing and Distilling News for February 2, 2017February 2, 2017
•The Craft Beverage Modernization and Tax Reform Act has been reintroduced in both chambers of Congress, backed by Senators Ron Wyden (D-OR) and Roy Blunt (R-MO) and Representatives Erik Paulsen (R-MN) and Ron Kind (D-WI). The bill, which was first proposed in 2015, aims to reduce the federal excise to $3.50 a barrel on the first 60,000 barrels for domestic brewers producing fewer than 2 million barrels annually. It would also cut excise tax to $16 per barrel on the first 6 million barrels for all other brewers and beer importers, with the rate holding steady at $18 per barrel on production over that threshold. Since its introduction, the bill has received strong support from The Brewers Association, with additional endorsements also coming from the National Barley Growers Association, Hop Growers of America and National Association of Manufacturers, among other groups.Subscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.
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