CBS19: Calling for coordinated relief efforts for small businesses

CBS19

Congresswoman Abigail Spanberger says there is a need for coordinated federal relief efforts for small businesses.

On Tuesday, she visited Three Crosses Distilling in Powhatan where she spoke with representatives from the Virginia Distillers Association, the Distilled Spirits Council of the United States and other representatives from Central Virginia distilleries.

According to a release, Spanberger spoke about changes that are required to help businesses adapt and innovate in response to COVID-19, including a need to extend a federal tax credit that was put in place in 2017 and extended until the end of this year.

Spanberger is a co-sponsor of the Craft Beverage Modernization and Tax Reform Act, which would make a federal excise tax cut on distilled spirits permanent.

She says that without this bill, craft distillers would face a 400-percent tax increase next year.

“The craft beverage industry has been a hallmark of Virginia’s economic growth over the past decade. But like every sector of our economy during this crisis, there is much uncertainty about the path ahead,” said Spanberger. “Today, I focused on reviewing how I can be helpful in Congress as we look to make the regulatory environment more friendly to businesses that are adapting their operations in response to COVID-19. When it comes to distilleries, part of this effort must include keeping reforms in place that make it easier to innovate and grow, and I look forward to building a business climate that allows Central Virginia’s distilleries to add more jobs and produce more Virginia-made beverages.”

She also hosted a roundtable discussion of regulatory issues facing distilleries in Central Virginia and federal efforts to provide relief to small businesses and restaurants that have been impacted by the pandemic.