Schumer Throws His Support Behind Micro-Breweries
Utica, NY (WIBX) – Senator Charles E. Schumer made a stop at the F.X. Matt Brewery Company on Varrick Street to throw his support behind a piece of legislation that looks to cut the excise tax on small breweries. Schumer says the proposal will be “a real shot in the arm” for small breweries all across the state and the country.
“For breweries like F.X. Matt that makes less that 6 million barrels of beer a year, this proposal will cut the excise tax by as much as 50-percent for each barrel produced, that’s a big cut,” Schumer said during his stop at the brewery, where he explained the tax cut being a “win-win” and bipartisan piece of legislation.
According to the report, if passed the legislation will affect the approximately 650 small breweries across the country that combined, employ nearly 100,000 U.S. workers. In New York State the beer industry, according to Schumer, supports about 8,000 jobs through brewing and distribution, and about 60,000 jobs when you factor in retail and sales positions.
In a released statement, Schumer said, “Currently, brewers pay a $7 excise tax for the first 60,000 barrels they brew per year. Under this bill, that rate is slashed to $3.50 per barrel, resulting in potential savings of $210,000 per year for the brewery.” He goes on to say that the bill will cut the tax by $2 on the next 1,940,000 barrels produced, which could result in $3,880,000 savings for a small brewery. Schumer, surrounding by Nick Matt, Mayor David Roefaro, Assemblywoman RoAnn Destito and other commnunity leaders said, “Small breweries throughout Upstate New York not only brew great beer, they also create great jobs.”