This new bipartisan bill wants to make your booze cheaper
As always, alcohol is playing a crucial part in bridging gaps between people — this time between House representatives on opposing sides of the aisle. A bill introduced to the lower chamber by Rep. Todd Young (R-Ind.), which proposes cutting the excise tax on certain spirits, is being co-sponsored by Rep. John Yarmuth (D-Ky.). It's likely the two came together on the issue over the prominence of distilleries in their home states. (You may have heard of Kentucky's bourbon industry.)
The bill, known officially as the Distillery Innovation and Excise Tax Reform Act, targets the high excise tax rate — taxes imposed on the purchase of specific goods that are often built into the price of that good — on distilled spirits. The Hill reports the legislation would cut the current rate from $13.50 per proof gallon to $2.70 per proof gallon on the first 10,000 gallons produced by each distiller. After the first 10,000 gallons, distillers would be subject to a $9 per proof gallon tax.
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