Beer Institute Applauds Senate Vote on COVID relief
Senate moves to provide relief for restaurants and bars hit hard by the pandemic
WASHINGTON – Jim McGreevy, President and CEO of the Beer Institute, released the following statement after the U.S. Senate passed COVID relief legislation. The House of Representatives passed identical legislation earlier this evening.
“This legislation is a first step to helping the bar and restaurant industry recover, but more is needed to help our friends and neighbors who work in the hospitality industry who have been particularly impacted by the pandemic.
“With the passage of permanent alcohol excise tax relief by the House and the Senate, brewers and beer importers and the millions of American jobs that depend on the beer industry, from farmers to restaurant workers, will have long-term tax certainty that will help them weather the COVID-19 pandemic.
“I encourage President Trump to quickly sign this legislation so the beer industry can continue to provide jobs to millions of Americans.”
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, which was extended for one year in December 2019. Permanent extension of the excise tax rates will protect American beer jobs for years to come.
According to recent polling done by the Beer Institute, 63 percent of Americans support Congress making the current federal excise tax rates permanent for all brewers and beer importers. Further, more than 350 members of the House and more than 75 members of the Senate are cosponsors of the Craft Beverage Modernization and Tax Reform Act of 2019, which makes the excise tax relief for brewers and beer importers contained in the Tax Cuts and Jobs Act permanent.