In Cincinnati, Portman Visits Brain Brew Custom Whiskey
Discusses Tax Relief for Growing Craft Beverage Industry Recently Signed Into Law
CINCINNATI, OH – Today, U.S. Senator Rob Portman (R-OH) toured Brain Brew Custom Whiskey, and discussed with company leaders his efforts to extend for one year the bipartisan Craft Beverage Modernization and Tax Reform Act, which was included in the final FY 2020 funding bill. The Craft Beverage Modernization & Tax Reform Act provides excise tax relief to the growing craft beverage industry, helping them reinvest in their businesses, hire new employees, and continue to innovate and grow.
“I had a great visit today with the leadership at Brain Brew Custom Whiskey discussing how their company will be able to continue to grow as a result of the tax relief that was just signed into law,” said Portman. “Without the extension that was included in the final FY 2020 funding bill, craft distillers like Brain Brew would have faced a 500% excise tax increase for 2020 – taxes they would have started paying as early as this week. This tax incentive is critical to spurring more investment and economic development in Ohio. I fought to include the bipartisan Craft Beverage Modernization and Tax Reform Act in the tax reform law because it drives more economic growth and job creation, and I’m pleased we were able to extend it for another year.”
The tax extenders package extends for one additional year the bipartisan Craft Beverage Modernization & Tax Reform Act, legislation cosponsored and championed by Portman that provides excise tax relief to the growing craft beverage industry, helping these entrepreneurs reinvest more in their businesses and our communities. In the 2017 tax reform law, Portman offered the amendment to add this excise tax relief into the larger package. Ohio is number four in the country in craft beer production and supports 15,000 jobs in the state. Portman received the Beer Institute’s “2018 Beer Champion” award in September 2018 for his leadership in championing reforms that allow brewers and beer importers to reinvest in their businesses, hire new employees, and continue to innovate and create America’s favorite beers. Portman also received the Legislative Champion award from the Brewers Association in July 2018 for his leadership on this issue.
Photos from the event are below: