Amid the Republican push for tax overhaul, the typically squabbling executives and lobbyists from the beer, wine and spirits sectors joined forces. They’re now celebrating the possibility of what they are calling their first federal tax reduction in roughly 150 years. A Senate version of the proposed tax bill includes a two-year provision that would cut federal excise tax on alcohol makers. Different excise rate reductions and credits would also apply to wine- and beer-makers. Earlier this summer, DISCUS brought about 50 spirits makers from around the country to Capitol Hill to meet with over 100 lawmakers.

Source: Wall Street Journal December 08, 2017 14:26 UTC