Beer Industry: Now Is Not the Time to Increase Taxes on Brewers
WASHINGTON – Today, the Beer Institute released the following statement in response to a proposed reconciliation bill in the U.S. Senate:
“We are deeply concerned by lawmakers’ intention to increase taxes on businesses amidst an unprecedented and unpredictable economic environment. As a national trade association representing the dynamic American beer industry, which generates $331 billion in economic activity annually and supports more than two million American jobs, we fear this will have serious economic repercussions for the more than 6,600 brewers across the country still recovering from the COVID-19 pandemic,” said Beer Institute Director of Public Affairs Alex Davidson. “Increasing taxes on brewers would fly in the face of the historic excise tax relief Congress made permanent in 2020 that provided economic stability to the beer and hospitality industries. Instead of adding new taxes to American manufacturers, Congress and the Administration could provide immediate inflation relief by repealing Section 232 tariffs on aluminum, which have cost the American beverage industry more than $1.4 billion since 2018 and resulted in inflated consumer prices.”
Read about how lifting tariffs would help reduce inflation here.