Beer Institute Applauds Senate Extension of Beer Excise Tax Relief
Senate moves to provide critical tax relief for U.S. brewers and beer importers
WASHINGTON – Today, Jim McGreevy, President and CEO of the Beer Institute, released the following statement after the U.S. Senate passed legislation that would extend popular excise tax relief for all brewers and beer importers. The House of Representatives passed identical legislation earlier this week.
“I am grateful a bipartisan majority of senators joined together today to extend excise tax relief for all of our nation’s brewers and beer importers,” said Jim McGreevy, President and CEO of the Beer Institute. “Congress has come together to prevent a $130 million tax increase on our nation’s thriving beer industry, which support more than 2.1 million good-paying jobs. I encourage President Trump to quickly sign this legislation and ensure the beer industry can continue to grow, innovate, produce and serve America’s most popular alcohol beverage.”
In 2017, Congress included two years of excise tax relief for all brewers and beer importers as part of the Tax Cuts and Jobs Act. Congressional action to extend this relief will prevent a $130 million annual tax increase for the beer industry.
According to recent polling done by the Beer Institute, more than two-thirds of Americans support extending tax relief for brewers and beer importers. Further, more than 320 members of the House and more than 70 members of the Senate are cosponsors of the Craft Beverage Modernization and Tax Reform Act of 2019, a bill to make the excise tax relief for brewers and beer importers contained in the Tax Cuts and Jobs Act permanent.