Craft Beverage Modernization Act Will Stay in Effect
The Craft Beverage Modernization Act, which covers beer, wine and spirits, will remain in effect through 2020, instead of expiring at the end of this year. Senate Finance Committee Chairman Chuck Grassley, R-Iowa, said that the CBMA made it into a tax extenders package that was negotiated after midnight on Dec. 17. The provision allows importers and exporters a refund on alcohol excise taxes.
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House Ways and Means ranking member Kevin Brady, R-Texas, expressed disappointment that temporary tax benefits were renewed, calling it business as usual. He tweeted: “Fight isn't over -- yearly temp[orary] tax circus needs to end. ... When I die, sprinkle my ashes over the extenders -- so I live thru eternity.”