Brewers, distributors and retailers, including bars and restaurants, are “sitting on a significant amount of inventory that is highly perishable and must be consumed within a brief window of time before it is ‘out-of-code’ and no longer fit for sale and consumption,” Craig A. Purser, president/ceo, told House Speaker Nancy Pelosi and Senator Majority Leader Mitch McConnell in a letter.
To reduce the economic impact, he urged Congress adopt a short-term business tax credit that could be claimed by the entity in possession of the product on the date the product expires. “Doing so will provide employers with greater financial certainty, assist with employee retention and bring financial relief to the thousands of retailers, distributors, brewers and importers facing an uncertain future,” he wrote.
He also urged pass-through entities be allowed to retain revenue for operating purposes for a longer period of time. This would provide those businesses with working capital to continue operating in a challenging environment,” Purser said.