A proposed U.S. House bill that would significantly drop the excise tax on distilled spirits has both sides of the aisle saying, “Cheers!”
U.S. Rep. Todd Young (R- Ind.) introduced the Distillery Innovation and Excise Tax Reform Act Tuesday. The bill would reduces the excise tax — a tax on a specific good that is typically included in the price — on whiskey, rum, vodka, and gin.
The legislation is being co-sponsored by Rep. John Yarmut (D-Ky.)
The reduction under the bill would be significant, The Hill noted. The first 10,000 gallons produced by all distillers would drop from $13.50 per proof gallon to $2.70 per proof gallon and all production after that at $9 per proof gallon.
Currently, over half the price of a bottle of spirits goes to taxes and fees.
The Distilled Spirits Council (DISCUS) and the American Craft Spirits Association (ACSA) in a joint press release urged the passage of the legislation to include distilleries of all sizes and imported spirits.
“Legislation reducing the federal excise tax will encourage job creation and further investment by spirits producers across the country, while reducing the burden on consumers and hospitality businesses. This is one of the many ways small and large distillers are working together to ensure fair treatment for the entire spirits industry,” Tom Mooney, ACSA President, said in a statement.
Who ever said that Congress doesn’t do anything for the people?
