MEDFORD, Ore. — A craft beverage and tax reform act could help ensure businesses in the industry continue to grow.
The Craft Beverage Modernization and Tax Reform Act would permanently reduce taxes and modernize regulations for breweries, wine and cider makers, vintners, and distillers.
Some of the provisions were enacted in 2017 but will expire at the end of 2019.
Organic Alcohol Co. in Ashland said the act has allowed the company to hire new employees, expand their benefits packages, and purchase new equipment in 2018. The company said they are prepared should the act not pass.
Small brewing business, Arch Rock Brewing Company in Gold Beach, told NBC5 News the act has cut their excise taxes in half and they’d like to see it become law permanently.
The act helps support more than 10,000 wineries, 2,000 distilleries, and 7,000 breweries across the country.
In 2016, the brewing industry brought in more than $350 billion to the U.S. economy.
For a summary of the proposal, click here.
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