The U. S. Congress has passed legislative making the existing federal excise tax rates for small and independent breweries permanent, according to a release from the Brewers Association.
The legislation was part of a broad, year-end legislative package that included targeted COVID-19 relief as well as language from the Craft Beverage Modernization and Tax Reform Act (CBMTRA).
Before it becomes law, the year-end bill will need to pass both the House and Senate and be signed by the president. Once passed, the COVID-19 package should provide many breweries much-needed assistance to weather the next few months, with the CBMTRA providing certainty and continued savings.
Full statement here from the BA
