BEER INSTITUTE PRAISES ANHEUSER-BUSCH’S ANNOUNCEMENT OF $2 BILLION INVESTMENT IN U.S. BREWERIES THROUGH 2020
WASHINGTON–The Beer Institute—a national trade association representing brewers, beer importers, and industry suppliers—released the following statement lauding Anheuser-Busch’s announcement today that they will invest $2 billion into their American brewery operations through 2020:
“We applaud Anheuser-Bush for their $2 billion investment into their American brewing operations as a part of their continued commitment to America’s beer industry,” said Jim McGreevy, President and CEO of the Beer Institute. “Beer has been part of American culture since our founding and remains America’s most popular alcohol beverage. Today’s announcement is just one example of how America’s brewers and beer importers are supporting over 1.75 million American jobs and pouring nearly $253 billion into our nation’s economy. It is also another reason why Congress should pass the Craft Beverage Modernization and Tax Reform Act, bipartisan legislation that will provide $130 million in tax relief to brewers and beer importers of all sizes, which will enable them to further invest in their businesses, create jobs, and meet the growing demands for their products.”
The Craft Beverage Modernization and Tax Reform Act was introduced in both the House of Representatives and the U.S. Senate in January and has garnered bipartisan support from 45 Senators and 172 Republican and Democratic House members.
Specifically, this legislation:
- Reduces the federal excise tax to $3.50 per barrel on the first 60,000 barrels for domestic brewers producing fewer than 2 million barrels annually.
- Reduces the federal excise tax to $16 per barrel on the first 6 million barrels for all other brewers and all beer importers.
- Keeps the excise tax at the current $18 per barrel rate for barrelage over 6 million.