Volume 200 | December 21, 2020
Congress Expected to Make FET Reduction Permanent

Congress is expected to pass legislation tonight that will extend the Craft Beverage Modernization & Tax Reform Act (CBMTRA) permanently. The extension has been added to the larger year-end legislation necessary to fund the federal government into 2021. If it is not passed today, the US government would go into shutdown, which is unlikely to happen.

CBMTRA reduces the federal excise tax rate of $2.70 per proof gallon for the first 100,000 proof gallons of distilled spirits. It was first passed in 2017, and then extended for one year in 2019. It was set to expire on December 31, 2020.

Further reading: Beverage Dynamics
Click Below to Join our Park Street Insider Mailing List
We want your input. If you have ideas for new videos, concepts you want us to explain, or news we should share, please email them to us at psu@parkstreet.com. And if you like the newsletter, share it with a friend.
CONNECT WITH US
Park Street's mobile app is available for download on both
iOS and Android platforms.