Beer Tax Cut Wins Bipartisan Support
(Bloomberg) -- One of the loudest critics of President Donald Trump’s tax law has found something to like about it: lower taxes on beer and wine.
Senator Ron Wyden, the top Democrat on the Senate Finance Committee, introduced legislation Wednesday that would make permanent the excise-tax reductions on beer, wine and spirits producers included in the Republican tax law of 2017.
The the lower rates on alcoholic beverage makers are set to expire at the end of 2019. While lowering the excise taxes on wine and beer has a history of bipartisan support, the proposal has struggled to pass as a standalone bill.
The tax law passed on a party-line vote and Democrats had pledged to repeal much of it. In another show of bipartisanship, Senator Roy Blunt, a Missouri Republican, is cosponsoring the bill with Oregon’s Wyden.
©2019 Bloomberg L.P.