Sens. Ron Wyden (D-OR) and Roy Blunt (R-MO) recently introduced a measure designed to ensure continued growth of the nation’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 promote job creation in each industry further.
“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, Senate Finance Committee ranking member, 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 brewing industry alone contributed more than $350 billion to the U.S. economy, directly and indirectly employing about 2.23 million Americans while the wine industry contributed $220 billion and 1.7 million jobs, and spirits contributed more than $173 billion and 1.5 million jobs.
“The craft beverage industry is driven by small businesses that support thousands of jobs and contribute billions in economic output,” Blunt said. “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.”