As part of the recent tax reform legislation, Congress cut federal excise taxes on alcohol. (R Street's Jarrett Dieterle an Kevin Kosar summarized the recent tax changes for booze here). The Seven Fifty Daily interviews numerous drinks producers who are praising the recent changes and pointing out how they've helped boost their businesses:
It’s an exciting year for Wigle Whiskey: The family-owned Pittsburgh distillery will get a $100,000 boost in 2018 thanks to new tax laws passed by the United States Congress at the end of 2017...
Included in the tax overhaul is the Craft Beverage Modernization and Tax Reform Act—the first update to alcohol tax laws since 1991—which Congress’s nonpartisan Joint Committee on Taxation estimates will bring $4.2 billion in tax savings to the industry over two years.
'It’s monumental,' says Bob Pease, the president and CEO of the Brewers Association, which represents small and independent craft brewers. Mark Shilling, the president of the board of directors of the American Craft Spirits Association (ACSA), calls the new legislation 'the biggest deal for the spirits production part of the industry since Prohibition.'
For Wigle Whiskey, 'it’s game changing,' says Meredith Meyer Grelli, one of the distillery’s owners. With the expected tax savings, her eight-year-old business is hiring another distiller and a marketing production manager, bringing the number of full-time employees to 20. Plans also include the increase in production of their 30,000-proof-gallon distillery by 20 percent. 'It’s a funny situation for us,' Grelli says, 'because we’ve personally never been on the front lines of pushing for tax reductions. It’s not really a part of our personal politics, but I can tell you now, living through this, I can see the impact.'..."
Read the whole piece here.