A group of 57 senators sent a letter to Senate leadership yesterday asking them to pass the Craft Beverage Modernization and Tax Reform Act (CBMTRA, S.362/H.R. 1175).
According to a Brewers Association statement, the letter was spearheaded by Senate Finance Committee ranking member Sen. Ron Wyden (D-OR), the lead sponsor of the bill, and Sen. Rob Portman (R-OH), both of whom have been leaders in supporting the recalibrated excise tax rates and the important role that craft beverage producers play to the United States economy.
The letter acknowledged the impact the COVID-19 pandemic is having on producers across the country, and implored Congress to not let the existing rates expire, which would result in many small breweries seeing their excise tax rates increase by up to 100%..
Unless Congress acts, the current federal excise tax rates will expire on Dec. 31, 2020. The Brewers Association is advocating for passage of CBMTRA to ensure the rates are made permanent, as well as for additional pandemic relief for breweries and the hospitality industry.
Full text of the letter here.
