The U.S. Senate will return on Monday, June 2, to resume consideration of H.R. 1, the budget reconciliation legislation. The U.S. House of Representatives passed the legislation by a narrow margin on May 22.
H.R. 1 in the current form contains a number of important tax measures for the brewing industry, such as making the tax rate for pass-through entities permanent and reinstating deductions that can be made on research and development (R&D) expenses.
The legislation is now with the U.S. Senate, where the bill will be voted on at a point to be determined soon.
Republicans in both Congress and the Administration have telegraphed a desire to pass H.R.1 and send it to the President’s desk for a final signature by July, but a number of procedural steps remain before that can occur.