Craft Beverage Modernization and Tax Reform Act Provisions Pass Senate

Share Post

The Craft Beverage Modernization and Tax Reform Act (S.236/H.R.747) was reintroduced in both chambers of the 115th Congress. Sponsors total 55 in the U.S. Senate and 301 in the U.S. House of Representatives. Specific tax provisions of the bill include: reducing 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; reducing the federal excise tax to $16 per barrel on the first 6 million barrels for all other brewers and all beer importers; keeping the excise tax at the current $18 per barrel rate for barrelage over 6 million.
S. The Craft Modernization and Tax Reform Act would also ease a number of burdens for brewers, including simplifying label approvals and repealing unnecessary inventory restrictions.
A two-year version of the bill’s provisions has been incorporated into the Senate’s Tax Cut and Jobs Act which passed that chamber and is now part of House-Senate reconciliation process on tax reform.

Links: