Congressional Leaders Announce Agreement to Make Benefits Permanent
WASHINGTON, D.C. — Wine Institute welcomes tonight’s congressional action to make permanent the reduction in wine excise taxes originally enacted in 2017. The comprehensive omnibus appropriations and COVID-19 stimulus package announced by Congressional leaders includes permanence for the Craft Beverage Modernization and Tax Reform Act (S. 362/ H.R. 1175), which provides significant tax benefits for all wineries. The House and Senate are expected to vote on the legislation on Monday.
“Wine Institute has worked tirelessly over the last five years to secure these critical benefits for our wineries and make them permanent,” said Robert P. Koch, President and CEO of Wine Institute. “These tax savings will allow our predominantly small, family-owned wineries to invest in their employees and facilities when its needed most as wineries struggle to cope with the pandemic and the recent wildfires.”
This legislation reduces excise tax payments for all of the 4,000 plus wineries in California that contribute more than $114 billion annually to the national economy.
