Craft brewers, railroads and more to see permanent tax breaks – By Doug Sword and Paul M. Krawzak (Roll Call) / Dec 21 2020
Clean energy industries would also be winners under the tax agreement
Lawmakers are primed to make excise tax cuts for some 20,000 small brewers, wineries and distilleries permanent in an emerging year-end tax package being grafted onto an omnibus spending bill, according to sources familiar with the tax package who spoke on condition of anonymity.
These small businesses, located in every state and almost every congressional district, waged an intensive lobbying campaign to protect tax breaks that were estimated to cost the Treasury $950 million for a one-year extension that expires Dec. 31.
“This is a huge sigh of relief for struggling craft distillers who have been on pins and needles awaiting the outcome of these discussions,” Chris Swonger, president and chief executive of the Distilled Spirits Council, said in a statement.
Small distillers were scheduled to lose an 80 percent cut in their excise taxes on Dec. 31, which threatened the survival of some operations since the industry relies heavily on tasting rooms and other consumer contacts that have fallen off during the pandemic.
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