Articles Tagged with 'Government Affairs'

Aluminum Can Producers Warn of Price Increases, as President Trump Threatens to Increase Tariffs on Chinese Imports

Aluminum Can Producers Warn of Price Increases, as President Trump Threatens to Increase Tariffs on Chinese Imports

Barring a resolution before next week, President Donald Trump’s escalating trade war with China — and increased tariffs on aluminum can sheet — threatens to further impact U.S. beer companies’ bottom lines. On Friday, Trump announced via Twitter plans to increase tariffs on $550 billion of imported Chinese goods over the next two months in retaliation for China saying it would impose $75 billion in tariffs on goods imported from America beginning October 1. And aluminum can producers are bracing for the higher aluminum costs and passing them onto their customers.

US Senate Task Force Supports Permanent Excise Tax Relief for Brewers

US Senate Task Force Supports Permanent Excise Tax Relief for Brewers

The beer industry’s efforts to make federal excise tax relief for brewers permanent received a boost Tuesday when members of a bipartisan congressional task force expressed support for the cause. U.S. Senate Finance Committee chairman Chuck Grassley (R-IA) and ranking member Ron Wyden (D-OR) released a report from the Individual, Excise, and Other Temporary Tax Policy Task Force, which called for the Craft Beverage Modernization and Tax Reform Act (CBMTRA) to be permanently enacted.

Last Call: Tax Cuts for Brewers Passes House Committee; May US Beer Shipments Decline

Last Call: Tax Cuts for Brewers Passes House Committee; May US Beer Shipments Decline

In this week’s Last Call: The House Ways and Means Committee passed a one-year extension of the federal excise tax relief for alcohol producers and importers. Also, U.S. beer shipments declined in May, Deschutes begins selling canned drinking water, Bell’s Two Hearted tops the AHA’s best list, and more news briefs.

Developing: US House Committee Expected to Extend Federal Excise Tax Relief for Brewers

Developing: US House Committee Expected to Extend Federal Excise Tax Relief for Brewers

An effort to maintain reduced federal excise taxes (FET) on all brewers an importers could take a major step forward tonight. The House Ways and Means Committee is expected to extend tax cuts for alcohol producers and importers as part of the Taxpayer Certainty and Disaster Tax Relief Act of 2019 (H.R. 3301) extender bill.

Government Affairs: Congressional Majority Now Supports Tax Reform for Brewers and Importers; Trade Groups Urge Trump to Rethink Tariffs on Mexico

Government Affairs: Congressional Majority Now Supports Tax Reform for Brewers and Importers; Trade Groups Urge Trump to Rethink Tariffs on Mexico

Alcohol producers’ efforts to make excise tax relief permanent reached another milestone today, as a majority of Congress now supports the Craft Beverage Modernization and Tax Reform Act (CBMTRA). In a joint announcement, seven alcohol industry trade groups said a bill to permanently enact tax cuts for alcohol producers and importers now has 218 co-sponsors in the U.S. House of Representatives.

US Lifts Aluminum and Steel Tariffs on Canada, Mexico

US Lifts Aluminum and Steel Tariffs on Canada, Mexico

Nearly a year after imposing aluminum and steel tariffs against Canada and Mexico, the Trump administration today officially lifted levies imposed upon the two longtime trade allies. Ending tariffs on steel and aluminum imported from Canada and Mexico marks a significant moment for the beer industry, as about 43 percent of aluminum used by U.S. beverage companies comes from Canada, according to Washington, D.C.-based trade group the Beer Institute (BI).

Majority of US Senators Support Permanent Tax Reform for Brewers, Importers

Majority of US Senators Support Permanent Tax Reform for Brewers, Importers

A majority of U.S. Senators support making permanent excise tax relief for alcohol producers and importers. The 2019 version of the Craft Beverage Modernization and Tax Reform Act (CBMTRA) added its 52nd supporter in the U.S. Senate today, with Sen. Mazie Hirono (D-HI) becoming a co-sponsor. The legislation seeks to make permanent the two years of tax breaks that alcohol producers and importers received as part of the Tax Cuts and Jobs Act, which are slated to expire at the end of this year.

Congressional Members Urge DOJ to Investigate Midwest Premium

Congressional Members Urge DOJ to Investigate Midwest Premium

A bipartisan group of Congressional members have called on the Department of Justice (DOJ) to investigate potential irregularities in the aluminum market, which they say are causing the price of the metal used in beverage cans to surge. In the letter to Attorney General Jeff Sessions, U.S. Rep. Ken Buck (R-CO) and 31 additional congressional members pointed to “sharp increases” in the Midwest Premium — which represents the full logistics costs of shipping and storing metal in the U.S. — as the potential cause of aluminum pricing irregularities.