A new report from market economics consultant John Dunham Associates estimates that this year’s beer sales will drop by $22 billion compared to last year and 651,000 jobs in the brewing industry will be lost. “The beer industry has seen a dramatic decline both in sales and jobs that rely on our nation’s most popular alcohol beverage,” said Jim McGreevy, president and CEO of the Beer Institute. Several other industry leaders agree. “Many beer retailers have been forced to lay off employees or close their doors altogether due to the COVID-19 pandemic,” said John Bodnovich, executive director of American Beverage Licensees. U.S. brewers are urging lawmakers to pass an updated version of the Craft Beverage Modernization and Tax Reform Act to “create a fair and equitable tax structure for brewers, winemakers, and distillers.” Bob Pease, CEO and president of the Brewers Association, said that if this law is not enacted, “businesses that are already struggling will face higher federal excise taxes, causing some businesses to close their doors permanently and threatening tens of thousands of jobs.” Get the full story here at The Drinks Business.
Photo Source: Elevate Beer