America’s small, craft beer, wine, cider and mead brewers are teaming up with 57 bipartisan senators to ask Congress to extend relief from excise taxes on alcoholic beverage products. These tax cuts, imposed by President Donald Trump in 2017, will expire at the new year.
The coronavirus pandemic has forced “dramatic declines in revenue” because of the closure of on-premise locations. The Beverage Marketing Corporation estimates up to 30% of craft breweries that existed in 2019 won’t make it through the pandemic. And stats by the Brewers Association show craft drinks make up more than 25% of the $116 billion U.S. beer market.
Read more (Food Dive)