Wyden, Blunt Move to Support America’s Craft Beverage Industry
This week, Senate Finance Committee Ranking Member Ron Wyden, D-Ore., and Senator Roy Blunt, R-Mo., introduced legislation to help ensure the continued growth of America’s craft beverage industry. The Craft Beverage Modernization and Tax Reform Act would permanently establish reduced taxes and modernized regulations for brewers, cider makers, vintners and distillers to further promote job creation in each industry.
In 2016, the brewing industry alone contributed more than $350 billion to the U.S. economy, directly and indirectly employing about 2.23 million Americans. The wine industry contributed $220 billion and 1.7 million jobs, and spirits contributed more than $173 billion and 1.5 million jobs.
“People around the world enjoy Oregon wine, craft beer, cider and spirits—providing not only a serious source of home state pride but also a huge boon to our state’s economy,” Wyden said. “By modernizing burdensome rules and taxes for craft beverage producers, this legislation will level the playing field and allow these innovators to further grow and thrive.”
“The craft beverage industry is driven by small businesses that support thousands of jobs and contribute billions in economic output,” said Blunt. “This bill will remove tax and regulatory barriers that are making it harder for Missouri’s brewers, distillers, and winemakers to grow and compete. I’m encouraged by the strong, bipartisan support this measure had in the previous Congress and look forward to working with our colleagues to get it to the president’s desk.”
The Craft Beverage Modernization and Tax Reform Act is co-sponsored by Sens. Thomas R. Carper, D-Del., Pat Roberts, R-Kan., Debbie Stabenow, D-Mich., Jerry Moran, R-Kan., Robert P. Casey Jr., D-Pa., Rob Portman, R-Ohio, Michael F. Bennet, D-Colo., Shelley Moore Capito, R-W. Va., Tammy Baldwin, D-Wis., and Cory Gardner, R-Colo.
In The News
WASHINGTON - President Donald Trump said Tuesday that his administration is considering a temporary payroll tax cut as a way to bolster the U.S. economy though he continues to insist the nation is not inching toward a recession. "I’ve been thinking about payroll taxes for a... Read More
WASHINGTON — Seventy-four percent of U.S. business economists participating in a new survey believe the United States will slip into a recession by the end of 2021, despite the White House's insistence that the "fundamentals" of the economy remain strong. The survey, released Monday, was conducted... Read More
WASHINGTON — Larry Kudlow pushed back Sunday on the notion that the U.S. economy is headed toward a recession, and said recent phone calls between U.S. and Chinese trade negotiators had produced more “positive news.” Kudlow, the White House National Economic Council director, and Peter Navarro,... Read More
WASHINGTON — President Donald Trump said buying Greenland would be “a large real estate deal” that could ease a financial burden on Denmark, which administers the island, but hours earlier its Prime Minister Mette Frederiksen ruled out any sale to the U.S. “Strategically it’s interesting and... Read More
WASHINGTON - Back home in South Carolina after a mid-week trip to New Hampshire, former Rep. Mark Sanford said Friday he was pleased with how things went in the Granite State and his decision on whether to mount a primary challenge against President Trump will be... Read More
WASHINGTON - Representatives John Katko and Anthony Brindisi have launched a bipartisan effort to hold the international commission that manages outflows from Lake Ontario accountable for recent historic flooding. Katko, a Republican, and Brindisi, a Democrat, have gotten the Government Accountability Office, a nonpartisan group that... Read More