Federal tax reform may stand in the way of craft-brewery tax breaks

DENVER BUSINESS JOURNAL - One of the short-term victims of President Donald Trump’s effort to pass comprehensive federal tax reform could be a long-lingering effort to reduce taxes specifically on craft breweries, U.S. Rep. Diana DeGette told a gathering of Denver-area brewers on Monday.

First introduced in 2010, the Craft Beverage Modernization and Tax Reform Act that was reintroduced this year has picked 252 co-sponsors in the U.S. House of Representatives — 34 more votes than it needs to pass through the House. However, it remains stuck in limbo without a scheduled committee hearing, despite the backing of 149 Republican and 103 Democrats, including all seven members of Colorado’s House delegation.

DeGette, a Denver Democrat, said she expects that inertia will continue at least through the end of this year, as congressional Republicans are focusing efforts on big-picture overhauls to the country’s corporate and individual tax systems rather than on industry-specific tax breaks.

That’s left craft brewing — a sector that includes roughly 350 breweries in Colorado — out of luck and plenty of other industries as well.

Read more at the Denver Business Journal: http://bit.ly/2xuC4Lc

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