Political Quotes

“I am very pleased that Senator Collins and I have introduced legislation known as the Small Brewer Reinvestment and Expanding Workforce Act, S. 375. The two of us have led the effort to try to help the craft brewing industry. The craft beer industry is composed of small businesses that have used their ingenuity to create beers that are becoming very, very popular. It is interesting that when we developed the excise tax on beer, I don't think we thought of the craft beer industry at the time. The craft beer industry, as I said, generally consists of small businesses who are struggling to find capital in order to expand. The current law imposes an excise tax on the first 60,000 barrels at $7 per barrel for breweries that produce 2 million or fewer barrels annually. The Small BREW Act would modify that, by increasing the threshold to 6 million barrels. Under the bill, brewers producing 6 million or few barrels each year would pay $3.50 per barrel on the first 60,000 barrels, and $16 per barrel on their annual production between 60,001 and 2 million barrels. So the Small BREW Act would reduce the amount they pay in federal excise taxes. I wish to take a moment and then yield to my colleague to explain the rationale as to why we have introduced this legislation. As I said a moment ago, when we imposed the excise tax on beer, I believe we thought about the big companies and that we wanted to have taxes on distilled spirits, wine, and beer as an excise tax.…”