Concerns over potential price gouging are mounting after President Donald Trump signed an executive order last Thursday to impose a 10 percent tariff on imported aluminum. In a letter sent yesterday to Secretary of Commerce Wilbur Ross, four beverage trade groups — the Beer Institute (BI), Brewers Association (BA), Can Manufacturers Association (CMI) and American Beverage Association — cited “major concerns about how the 10 percent tariff could cause price-gouging within aluminum markets.”
In a move that would have wide-ranging effects on the beer industry, President Donald Trump yesterday announced plans to implement a 10 percent tariff on imported aluminum. The move comes weeks after the Commerce Department recommended tariffs on aluminum and steel as a national security precaution, citing the nation’s inability to build military weapons without foreign steel and aluminum.
The U.S. Congress voted along party lines to pass the Republicans’ $1.5 trillion rewrite of the federal tax code, which includes two years of excise tax relief for alcohol producers and importers. The bill now heads to President Donald Trump, who is expected to sign it into law before the end of the week.
Members of the U.S. Senate and House of Representatives agreed over the weekend on a sweeping rewrite of the U.S. tax code that will include excise tax relief for alcohol producers and importers. The Craft Beverage Modernization and Tax Reform Act (CBMTRA) survived a conference committee of the House and Senate and will be included in the final version of the Tax Cuts and Jobs Act. The bill will now receive a final congressional vote — the Senate could vote as early as Tuesday — before advancing to President Donald Trump’s desk for approval.
The United States Senate passed a sweeping tax reform bill early Saturday morning that includes a number of changes to the tax code and benefits alcohol producers. With a vote of 51-49 today, the Senate passed H.R. 1, the “Tax Cuts and Jobs Act,” which is the largest tax overhaul in 31 years and includes the Craft Beverage Modernization and Tax Reform Act (CBMTRA).
For the first time ever, beer excise tax reductions have been included in a comprehensive federal tax reform proposal. On Tuesday night, U.S. Senate Finance Committee chairman Orrin Hatch (R-Utah) released a “Chairman’s Mark” to the Senate GOP’s version of the Tax Cuts and Jobs Act.
The U.S. Food & Drug Administration (FDA) released its latest draft guidance for calorie-posting requirements on Tuesday, offering additional clarification for establishments in which alcoholic beverages are a regular part of menus.
The North Carolina Craft Brewers Guild has hired Andrew Lemley as the organization’s new executive director. Lemley comes to the Guild from New Belgium Brewing Company, where he most recently served for the last four years as the Fort Collins-headquartered brewery’s government affairs representative.
A majority of U.S. senate members now support legislation that would reduce excise taxes on all brewers and importers. According to a press release jointly produced by six beverage lobbying groups, including the Beer Institute and the Brewers Association, 51 senators have co-sponsored Senate Bill 236, known as the Craft Beverage Modernization and Tax Reform Act (CBMTRA).