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 (AP) — President Joe Biden's administration is beginning to make $3 billion in economic development grants available to communities — a tenfold increase in the program paid for by this year's COVID-19 relief bill. Commerce Secretary Gina Raimondo said her agency on Thursday will begin... Read More
According to a recently released economic report by the Arizona Office of Economic Opportunity, the state of Arizona has outpaced the nation in private sector economic recovery post-COVID. In June alone, Arizona added 26,000 private sector jobs to its economy -- a rate 17% higher than... Read More
WASHINGTON (AP) — President Joe Biden just can't quit Ohio — even if it rejected him in last year's election. The Democrat travels to Cincinnati on Wednesday to push his economic policies. It's the third visit of his presidency to Ohio, the only state he lost... Read More
WASHINGTON -- The Senate continued its search Thursday for ways to prevent the kind of devastation brought to U.S. supply chains by COVID-19. Industry executives told a Senate panel the pandemic exposed U.S. dependence on foreign suppliers to keep the lights on for their businesses. As... Read More
WASHINGTON -- Members of Congress threw their support Tuesday behind President Joe Biden’s goal of helping small and rural businesses but with different perspectives on how to achieve it. Rep. Jared Golden, D-Maine, suggested that Congress provide a dedicated source of funding for the Small Business... Read More
As the American economic engines churn back to life, one major hurdle stands in the way of our market renaissance - labor. Businesses, especially low wage, low skill businesses, are having a difficult time finding people to work for them. The consequences of these shortages are... Read More