Beer Institute praises new tax relief measures

The Beer Institute has praised President Trump and the U.S Congress for tax relief measures for breweries outlined in the Tax Cuts and Jobs Act.

The president and CEO of the Beer Institute Jim McGreevy said: “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.”

The act has been criticised for giving big businesses tax cuts, but smaller breweries should also benefit under the new measures. Smaller US brewers currently pay US$7 tax per barrel of beer that they produce, but the tax reforms would cut this tax to $3.50 per barrel on the first 60,000 barrels produced.

Brett Joyce, president of Rogue Ales, said: “Federal excise tax relief for brewers and beer importers will help small brewers create jobs and invest more in their businesses.”

The Beer Institute estimates that the federal excise tax relief could create $320 million in economic growth per year. The beer industry currently supports more than 2.2 million American jobs.

Larger brewers will also benefit from a $2 tax cut from $18 to $16 on the first six million barrels brewed or imported.

Leave a Reply

Your email address will not be published. Required fields are marked *

Please note that comments are subject to our posting guidelines in accordance with the Defamation Act 2013. Posts containing swear words, discrimination, offensive language and libellous or defamatory comments will not be approved.

We encourage debate in the comments section and always welcome feedback, but if you spot something you don't think is right, we ask that you leave an accurate email address so we can get back to you if we need to.

Subscribe to our newsletters

Events & Admin Assistant

The Drinks Business
London SE1, UK

Brand Manager - Key Wine Partners

MMI Dubai
Dubai - United Arab Emirates

Business Development Manager

Bashall Spirits
Lancashire, UK

Territory Manager - London​

Cadrona Distillery
London, UK

Business Development Manager

Lucozade Ribena Suntory

Customer Marketing Manager

London NW1, UK

Export Assistant Co-ordinator - Maternity Cover

Speciality Drinks
Whitby Avenue, London NW10 7SF, UK

Customer Services Administrator - On Trade

Speciality Drinks
Whitby Avenue, London NW10 7SF, UK

Fruit Focus 2019

East Malling,United Kingdom
17th Jul 2019

International Bulk Wine and Spirits Show

San Francisco,USA
23rd Jul 2019

The Wine Show Chelsea 2019

London,United Kingdom
18th Oct 2019
Click to view more

The Global Riesling Masters 2018

View Results

Global Chardonnay Masters 2018

View Results

Click to view more