WASHINGTON, Dec. 20, 2017 /PRNewswire-USNewswire/ -- The Beer Institute—a national trade association representing brewers, beer importers, and industry suppliers—today praised the U.S. House of Representatives, U.S. Senate and President Donald J. Trump for their commitment to tax reform and for including two years of federal excise tax relief for America's brewers and beer importers as a part of H.R. 1, the Tax Cuts and Jobs Act.
"The Tax Cut and Jobs Act will provide critical federal excise tax relief for brewers and beer importers of all sizes and will enable America's more than 5,000 breweries to add to the American economy through technology, innovation and jobs," said Jim McGreevy, President and CEO of the Beer Institute. We thank the more than 300 members of the House of Representatives and 55 members of the Senate who supported the Craft Beverage Modernization and Tax Reform Act."
"Federal excise tax relief for brewers and beer importers will help small brewers create jobs and invest more in their businesses," said Brett Joyce, President, Rogue Ales. "Competition within the beer industry is thriving with more than 5,000 permitted breweries in the U.S. and over 1,300 breweries having been added to the U.S. marketplace over the past two years alone. Federal excise tax relief on beer will help support these small businesses."
Federal excise tax relief for brewers and beer importers could create an additional $320 million in annual economic growth in an industry that today supports more than 2.2 million American jobs and generates more than $350 billion in economic activity.
The Beer Institute is a national trade association for the American brewing industry, representing brewers of all sizes, as well as beer importers and industry suppliers. First founded in 1862 as the U.S. Brewers Association, the Beer Institute is committed today to the development of sound public policy and to the values of civic duty and personal responsibility. For additional updates from the Beer Institute, visit our website, follow @BeerInstitute on Twitter, like the Beer Institute on Facebook, and follow the Beer Institute on Instagram.
SOURCE Beer Institute