Beer Champion is an awesome title. The Beer Institute just bestowed it to U.S. Senator Rob Portman (R-OH) as one of the Beer Institute’s 2018 Beer Champions. The senator was selected for his leadership in championing policies that provide tax relief for all brewers and beer importers and encouraged free trade.
“America’s brewers and importers are pleased to honor Senator Portman. His tireless efforts to build support for policies that enable our nation’s breweries and beer importers to continue to innovate, ensuring they can quench the thirst for America’s most popular alcohol beverage,” said Jim McGreevy, president and CEO of the Beer Institute. “I look forward to continuing to work with him on issues that will allow brewers and beer importers of all sizes to create even more good-paying jobs in America.”
“I’m honored to be selected as one of the Beer Institute’s 2018 Beer Champions. Ohio is fifth in the nation in craft beer production, and the beer industry supports 81,000 Ohio jobs. I’ve visited many breweries across the state, heard about the needs and challenges facing this growing industry, and tasted some of the impressive products that come from local Ohio businesses,” said Senator Portman. “I introduced a provision in the Tax Cuts and Jobs Act to help the brewing industry by lowering its excise tax burden, and I’m incredibly pleased with the results. Brewers throughout Ohio and across the country are reinvesting in their workers, businesses, and communities — the exact goal of my amendment and a strong justification for making these provisions permanent. I’ll continue working to represent the interests of the Ohioans I represent and the many breweries across the Buckeye State.”
Ohio is home to 320 breweries, and the beer industry helps create 81,000 jobs in the state.
“In Washington, Senator Portman’s leadership on our industry’s behalf is apparent in the important policy changes he’s working to put in place. What’s probably less apparent is all the time he has spent listening to brewers. He’s met with us many times and he’s worked to really understand our challenges and concerns,” said Bill Boor, CEO of Great Lakes Brewing Co. “Senator Portman has earned our appreciation and his work is helping us invest in our breweries and people.”
Senator Portman authored an amendment to include provisions in the Craft Beverage Modernization and Tax Reform Act into the Tax Cuts and Jobs Act, which President Trump signed into law in December 2017. The new law provides temporary federal excise tax relief to brewers and beer importers. As a result of the law, brewers and beer importers have resources to reinvest in their businesses, hire new employees and continue to innovate and create America’s favorite beers. However, this tax relief is scheduled to expire on December 31, 2019, unless Congress acts to extend the new excise tax rates or make them permanent.
The excise tax relief will save U.S. brewers and beer importers $130 million and yield $320 million in annual GDP growth, according to the Beer Institute.