US SB362 | 2019-2020 | 116th Congress

Status

Spectrum: Bipartisan Bill
Status: Introduced on February 6 2019 - 25% progression
Action: 2019-02-06 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]

Summary

Craft Beverage Modernization and Tax Reform Act of 2019 This bill modifies the tax treatment of certain alcoholic beverages to exclude the aging period from the production period for beer, wine, or distilled spirits for purposes of determining whether a taxpayer can expense, rather than capitalize, interest costs paid or incurred during the production period; reduce excise tax rates on beer and distilled spirits; permit the transfer of beer between bonded facilities without payment of tax; increase the amount of the small wine producer tax credit and expand the categories of producers covered by such credit; allow an adjustment to the producer credit for hard cider; and modify the alcohol content limitations that apply to certain wines for tax purposes. The Department of the Treasury must amend applicable regulations with respect to the use of wholesome products suitable for human consumption in the production of fermented beverages. The bill also increases funding for the Alcohol and Tobacco Tax and Trade Bureau.

Tracking Information

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Title

Craft Beverage Modernization and Tax Reform Act of 2019

Sponsors

Sen. Ron Wyden [D-OR]Sen. Roy Blunt [R-MO]Sen. Thomas Carper [D-DE]Sen. Pat Roberts [R-KS]
Sen. Debbie Stabenow [D-MI]Sen. Jerry Moran [R-KS]Sen. Robert Casey [D-PA]Sen. Rob Portman [R-OH]
Sen. Michael Bennet [D-CO]Sen. Shelley Capito [R-WV]Sen. Tammy Baldwin [D-WI]Sen. Cory Gardner [R-CO]
Sen. Margaret Hassan [D-NH]Sen. Dan Sullivan [R-AK]Sen. Jon Tester [D-MT]Sen. Jeff Merkley [D-OR]
Sen. Joni Ernst [R-IA]Sen. Patty Murray [D-WA]Sen. Maria Cantwell [D-WA]Sen. Richard Durbin [D-IL]
Sen. Amy Klobuchar [D-MN]Sen. Krysten Sinema [D-AZ]Sen. Gary Peters [D-MI]Sen. John Barrasso [R-WY]
Sen. Johnny Isakson [R-GA]Sen. Catherine Cortez Masto [D-NV]Sen. Jeanne Shaheen [D-NH]Sen. Josh Hawley [R-MO]
Sen. Ron Johnson [R-WI]Sen. Patrick Leahy [D-VT]Sen. John Boozman [R-AR]Sen. Thom Tillis [R-NC]
Sen. Martin Heinrich [D-NM]Sen. Steve Daines [R-MT]Sen. Kirsten Gillibrand [D-NY]Sen. Kamala Harris [D-CA]
Sen. Cory Booker [D-NJ]Sen. Martha McSally [R-AZ]Sen. Tom Udall [D-NM]Sen. Lisa Murkowski [R-AK]
Sen. Robert Menendez [D-NJ]Sen. Tammy Duckworth [D-IL]Sen. Angus King [I-ME]Sen. Roger Wicker [R-MS]
Sen. Christopher Coons [D-DE]Sen. Dianne Feinstein [D-CA]Sen. Marsha Blackburn [R-TN]Sen. Bill Cassidy [R-LA]
Sen. John Kennedy [R-LA]Sen. Todd Young [R-IN]Sen. Richard Blumenthal [D-CT]Sen. Mazie Hirono [D-HI]
Sen. Susan Collins [R-ME]Sen. James Risch [R-ID]Sen. John Hoeven [R-ND]Sen. Sherrod Brown [D-OH]
Sen. Mike Braun [R-IN]Sen. Doug Jones [D-AL]Sen. Christopher Murphy [D-CT]Sen. Mike Rounds [R-SD]
Sen. Cindy Hyde-Smith [R-MS]Sen. Kevin Cramer [R-ND]Sen. Jacky Rosen [D-NV]Sen. Lindsey Graham [R-SC]
Sen. Deb Fischer [R-NE]Sen. James Inhofe [R-OK]Sen. Rick Scott [R-FL]Sen. Charles Schumer [D-NY]
Sen. Tina Smith [D-MN]Sen. Pat Toomey [R-PA]

History

DateChamberAction
2019-02-06SenateRead twice and referred to the Committee on Finance.

Same As/Similar To

HB1175 (Same As) 2019-02-13 - Referred to the House Committee on Ways and Means.

Subjects


US Congress State Sources


Bill Comments

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