Sen. Schumer Pushing Tax Cuts for Small Breweries.
New York Senator Charles Schumer announced that he is introducing legislation that will cut the excise tax on small breweries in half. Currently, brewers pay a $7 excise tax for the first 60,000 barrels they brew per year. Under the Small BREW (Brewer Reinvestment and Expanding Workforce) Act of 2013 , that rate is reduced to $3.50 per barrel, resulting in potential savings of $210,000 per year for that brewery. The bill also cuts the tax by $2 on the next 1,940,000 barrels produced, resulting in potential savings of $3,880,000 each year.
The question remains whether a similar bill will be introduced to reduce excise tax for craft spirit producers.
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