MILWAUKEE (WISN) — A tariff and tax fight is brewing, and it could impact Wisconsin beermakers.
U.S. Sen. Tammy Baldwin talked about tax cuts and tariffs for Wisconsin brewers as she toured Superior Metropolis Brewing’s new taproom next to Milwaukee’s Fiserv Forum.
A bipartisan invoice, the Craft Beverage Modernization and Tax Reform Act, would slash excise taxes on beer, wine and spirits in half — from $7 a barrel to $3.50.
“We’ll be pushing quite tough to make positive that it is prolonged and designed everlasting,” Baldwin stated.
That would help you save Wisconsin craft brewers about $2 million a calendar year in taxes.
“When craft producers get aid from an excise tax, they’re compact corporations, and they’re heading to reinvest back again in their small business,” Baldwin stated.
Superior Metropolis Brewing and additional than 170 craft breweries in Wisconsin are also being strike by President Donald Trump’s tariffs on aluminum and steel.
“As we’ve issued new purchase orders for cans, we’ve seen our pricing go up,” stated Dan Katt of Brew Metropolis Brewing.
Larger-priced cans are a even larger deal for a significant brewer like MillerCoors, and the tariff doesn’t just impact aluminum cans.
Craft brewers stated the tariff on stainless steel provides about 8 to 10 % to the price of shopping for a brew kettle.
That is why Baldwin is hoping to offset the impact of the tariff by creating the excise tax slash for brewers everlasting.
MillerCoors stated Thursday the organization supports the energy to make the tax reform act everlasting.