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Craft Beverage Modernization and Tax Reform Act would permanently cut taxes and modernize outdated regulations for craft breweries
WASHINGTON, D.C. – U.S. Senator Tammy Baldwin has reintroduced bipartisan legislation to help craft breweries create jobs and grow our Made in Wisconsin economy. The Craft Beverage Modernization and Tax Reform Act would permanently cut taxes and modernize outdated regulations for brewers, as well as cider makers and distillers, to further promote job creation in each industry.
“Wisconsin craft beer makers are small businesses that create jobs and help grow our economy, so we need to make it easier for them to invest in workers and grow their business,” said Senator Baldwin. “This bipartisan legislation provides permanent tax relief for craft brewers so they can continue moving our Made in Wisconsin economy forward.”
The Craft Beverage Modernization and Tax Reform Act helps to ensure the continued growth of America’s craft beverage industry by reducing excise taxes, compliance burdens, and regulations for brewers, cider makers, vintners, and distillers. Each beverage class faces unique challenges, and this legislation takes a tailored approach to promote job creation in each sector. As a result, this comprehensive bill is supported by the entire craft beverage industry.
Craft beverage tax provisions were temporarily enacted in 2017, but are scheduled to expire at the end of 2019. This legislation would permanently establish reduced taxes and regulatory burdens for craft beverage producers.
In 2016, the brewing industry alone contributed more than $350 billion to the U.S. economy, directly and indirectly employing about 2.23 million Americans.
The Craft Beverage Modernization and Tax Reform Act, led by Senators Roy Blunt (R-MO) and Ron Wyden (D-OR), is also cosponsored by Senators Michael Bennet (D-CO), Tom Carper (D-DE), Bob Casey (D-PA), Shelley Moore Capito (R-WV), Cory Gardner (R-CO), Jerry Moran (R-KS), Rob Portman (R-OH), Pat Roberts (R-KS) and Debbie Stabenow (D-MI).
More information about this legislation is available here.