A coalition of alcohol producers, including Anheuser-Busch and MillerCoors, are turning up the heat on Congress to make permanent new tax cuts they won as part of the 2017 tax overhaul.
The 2017 law gave beer, wine, and spirits producers a two-year federal excise tax reduction worth $4.2 billion—with the deepest cuts going to small domestic brewers, whose tax rates were halved to $3.50 from $7 per barrel on the first 60,000 barrels.
The benefit is set to expire at the end of 2019, and brewers, cider makers, vintners, and distilleries are intent on maintaining it.
“Now it’s our time ...
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