Bourbon Discrimination: Righting a Smooth, Full-Flavored Injustice (S. 1457)

What is S. 1457?

(Updated July 13, 2017)

 This bill would allow bourbon producers  to exempt bourbon's “aging process” from normal inventory rules so that it qualifies as a business inventory expense. Currently, bourbon producers have to wait until after the aging process to claim the tax deduction; that is, the sweet, sweet bourbon must be ready to be poured down consumers' throats before the exemption kicks in. This would allow bourbon producers to deduct up-front, while the bourbon is in the process of aging. The bill also allows for write-offs of "indirect costs  that are allocable to the production during the aging process

Argument in favor

Bourbon discrimination is destroying our country. Only time can create a fine sipping whiskey, and that time costs money, and that money should be deductible up front.

Argument opposed

Tax cuts for bourbon still in the barrel are like tax cuts for Jell-O shots that have to yet to congeal: it's just too soon. Just keep the fridge door closed and have a Lime-A-Rita.

Impact

This bill impacts tax deductions for U.S. bourbon producers.

Cost of S. 1457

A fine bourbon is priceless.

Additional Info

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