Craft Brewing and Distilling News for December 11, 2019December 11, 2019
•U.S. craft beer production is on pace to rise about 4% for calendar 2019, according to the Brewers Association, decelerating slightly from a 5% increase last year. The trade group adds that the ranks of U.S. brewers now number more than 8,000, despite an estimated 300 breweries closing this year. With the craft market slowing, brewers are lobbying aggressively for an extension of the Craft Beverage Modernization and Tax Reform Act, which lowered excise tax rates on beer production to $3.50 a barrel on the first 60,000 barrels, among other provisions, but is set to expire at the end of the year. The legislation is currently co-sponsored by approximately three-quarters of both the House and Senate.Subscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.