Daily Tax Report ®

Majority of Senate Backs Alcohol Tax Break Extension by Year End

Dec. 1, 2020, 4:02 PM

A bipartisan group of 57 senators urged leadership to pass legislation that would permanently extend tax breaks for brewers, distillers, and vintners currently set to expire at the end of this year.

The bill (S. 362, H.R. 1175) would make permanent an excise tax cut initially lowered in the 2017 tax law, expand a tax credit for small wine producers, and allow other tax benefits related to alcohol production.

  • The senators, in a letter sent to Senate Majority Leader Mitch McConnell (R-Ky.) and Senate Minority Leader Chuck Schumer (D-N.Y.) on Tuesday, asked for...

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