The Beer Institute recently reported some happy news: 51 U.S. senators support a bill to lower federal drink taxes. The Craft Beverage Modernization and Tax Reform Act of 2015 (S. 1562) would:
- Lower the federal excise tax to $3.50 per barrel on the first 60,000 barrels for domestic brewers who make fewer than 2 million barrels per year;
- Reduce the federal excise tax to $16 per barrel on the first 6 million barrels for all other brewers and all beer importers;
- Maintain the current $18-per-barrel rate for brewers who produce more than 6 million barrels;
- Lower the tax on liquor for the first 100,000 gallons produced from $13.50 to $2.70 per gallon; and
- Exempt home distillers from federal taxes.
The bill also would enact several other reforms….(Read more at the American Conservative)
