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senate Bill S. 1179

Making Tax Cuts for Bourbon Storage Available Sooner

Argument in favor

Giving people tax deductions up front for aging bourbon will allow more people to afford to age bourbon for their business.

Edward's Opinion
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06/01/2015
Multi-year business storage costs are a deductible expense in almost any other business. Why not here?
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Michael's Opinion
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08/09/2015
It's a treasured national export. Let's not make it harder to produce.
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DEGUp's Opinion
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12/14/2016
Or better yet simplify the tax code for everyone, personal and business, no deductions & low rates.
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Argument opposed

This bill is just disguised tax cuts directed at people in one state: Kentucky. Kentucky already produces most of the world's bourbon, there's no need for more incentives.

Steven's Opinion
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01/21/2016
Alcohol is a drug, and it sells itself, I don't care to subsidize it. I feel mo sympathy for the alcohol industry.
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StratonGarrard's Opinion
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05/23/2015
We've had this problem since before the beginning of our country. The government must realize that not allowing its citizens to choose how to tax their favorite beverage is a gross mistake and only leads to protest.
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Elinor's Opinion
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06/18/2015
Really? This is important for our country?
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Bill Details

Official information provided by the Congressional Research Service. Learn more or make a suggestion.
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Title

Advancing Growth in the Economy through Distilled Spirits Act

Official Title

A bill to exempt the aging process of distilled spirits from the production period for purposes of capitalization of interest costs.

Summary

Advancing Growth in the Economy through Distilled Spirits Act or the AGED Spirits Act Amends the Internal Revenue Code to exclude the aging period from the production period for distilled spirits for purposes of determining whether a taxpayer can expense, rather than capitalize, interest costs paid or incurred during the production period.

bill Progress


  • Not enacted
    The President has not signed this bill
  • The house has not voted
  • The senate has not voted
      senate Committees
      Committee on Finance
    IntroducedMay 4th, 2015