BEER INSTITUTE PRAISES MAJORITY OF U.S. HOUSE MEMBERS’ SUPPORT OF CRAFT BEVERAGE MODERNIZATION AND TAX REFORM ACT
WASHINGTON, DC–The Beer Institute—a national trade association representing brewers, beer importers, and industry suppliers—released the following statement after Representative David Rouzer (R-NC) became the 218th member of the House of Representatives to add his name in support of H.R. 747, the Craft Beverage Modernization and Tax Reform Act, comprehensive legislation that provides fair and equitable reforms to the federal excise tax for brewers and beer importers of all sizes.
“I want to thank Rep. Rouzer as well as the 217 Republican and Democratic House members from across the country who are standing with America’s beer industry and supporting legislation that provides fair and broad tax relief and regulatory reforms to brewers of all sizes and beer importers,” said Jim McGreevy, president and CEO of the Beer Institute, which represents brewers, beer importers and industry suppliers. “The beer industry supports millions of U.S. jobs and generates hundreds of billions of dollars to our nation’s economy. This commonsense legislation will provide a much-needed update to the federal excise tax on beer so that all brewers and beer importers can continue to innovate and invest in their companies to meet consumer demand for America’s most popular alcohol beverage – beer.”
The beer industry supports over 2.2 million American jobs and generates more than $350 billion in economic activity, which is equal to about 1.9 percent of the nation’s GDP. The industry today includes nearly 5,000 breweries in operation in the United States– the highest total since the 1870s.
The Craft Beverage Modernization and Tax Reform Act (H.R. 747) was originally introduced in the U.S. House of Representatives on January 30, 2017, by Representatives Erik Paulsen (R-MN) and Ron Kind (D-WI). The companion legislation (S. 236) was introduced in the United States Senate by Senators Ron Wyden (D-OR) and Roy Blunt (R-MO) and has the support of 45 Senators.
Specifically the 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.
· Expands the list of ingredients that could be automatically included in beer without federal government approval.
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 onFacebook, and follow the Beer Institute on Instagram.