BEER INSTITUTE PRAISES SENATE PASSAGE OF TAX RELIEF FOR BREWERS AND BEER IMPORTERS
WASHINGTON, DC –Jim McGreevy, President and CEO of the Beer Institute—a national trade association representing brewers, beer importers, and industry suppliers—released the following statement lauding the U.S. Senate for voting to pass excise tax reform for brewers and beer importers for two years as a part of H.R. 1, the Tax Cuts and Jobs Act:
“The Beer Institute commends the Senate on their bold vision on tax reform and for including federal excise tax relief for America’s brewers and beer importers in the Senate tax reform legislation. Federal excise tax reform for beverage alcohol is a comprehensive and critical step forward that benefits all brewers and beer importers – large and small.
“We appreciate the broad bipartisan support for federal excise tax reform for brewers and beer importers, and we thank the 300 members of the House of Representatives and 55 members of the Senate who support the Craft Beverage Modernization and Tax Reform Act and for their leadership in providing comprehensive tax relief for brewers and beer importers.
“Federal excise tax relief for brewers and importers could create an additional $320 million in annual economic growth in an industry that today supports more than 2.2 million American jobs and generates more than $350 billion in economic activity.
“We thank Senators Roy Blunt (R-MO) and Rob Portman (R-OH) for their leadership to include federal excise tax relief for brewers and beer importers in the Tax Cuts and Jobs Act, and we look forward to working with Senate and House leadership as well as the members of the conference committee and urge them to include this provision in the final conference report. “
The Beer Institute is a national trade association for the American brewing industry, representing brewers of all sizes, as well as beer importers and industry suppliers. First founded in 1862 as the U.S. Brewers Association, the Beer Institute is committed today to the development of sound public policy and to the values of civic duty and personal responsibility. For additional updates from the Beer Institute, visit our website, follow @BeerInstitute on Twitter, like the Beer Institute on Facebook, and follow the Beer Institute on Instagram.