Fueled by their donations, Mitch McConnell pushes special tax break for bourbon industry

[babylonsister]

Fueled by their donations, Mitch McConnell pushes special tax break for bourbon industry
The Senate Republican majority leader and Sen. Rand Paul (R-KY) announced the bill on Wednesday.
Josh Israel
Jul 25, 2019, 1:41 pm



Senate Majority Leader Mitch McConnell and fellow Republican Kentucky Sen. Rand Paul announced a bill on Wednesday to provide special corporate tax advantages for liquor distillers.

A look at McConnell’s campaign finance history may offer a big clue as to why: hundreds of thousands of dollars in contributions from the alcoholic beverages sector.

The Advancing Growth in the Economy through Distilled Spirits Act would renew an expiring provision from President Donald Trump’s 2017 tax cut bill that allows for the deduction of interest expenses related to bourbon inventory when the expenses are paid, rather then when the bourbon is bottled and sold. In a joint press release, Paul said the bill would “preserve Kentucky’s signature Bourbon industry by boosting job creation and maintaining a level playing field between Bourbon and whiskey producers at home and their competitors abroad.”

But back in 2010, an examination by the non-partisan Center for Public Integrity calculated the largest individual donors to McConnell over his decades-long tenure in Congress. Of the top five largest career donors, three had ties to the Kentucky-based Brown-Forman Corporation. Brown-Forman’s products include Jack Daniel’s whiskey and Old Forester bourbon.

more...

https://thinkprogress.org/fueled-by-their-donations-mitch-mcconnell-pushes-special-tax-break-for-bourbon-industry-c8e29a2717b7/

[Stuart G]

1. Thank You for posting. It is good to know what McConnell really cares about.. Bourbon!!!

He couldn't care less about safe and totally legal elections. I guess he has the fix in on elections but needs pay close attention to "bourbon"

[eleny]

2. I like seeing eveidence that he's scared

First, the aluminum mill being planned for Kentucky by Deripaska. The anti McConnell ads write themselves over that. Now he has to reach for low hanging fruit pushing a tax break for locals.

[mopinko]

3. because dog knows how important booze is to our country.

jeebus. prohibition was stupid, but alcohol causes a lot of problems.
why would we subsidized a public health menace?

[safeinOhio]

4. If he were looking for more votes than money

he might give tax breaks to bourbon drinker instead.

[Me.]

5. Why Doesn't Someone Place A Hold On This

until he brings security bills up for a vote?

[Blue_true]

6. Because democrats refuse to play that game.

And that is a shame. This would be a perfect bill to place a hold on.

[Me.]

8. Schumer Needs To Get His Act Together

[PA Democrat]

7. Hey! Those lobbyists paid good money for a piece of Moscow Mitch's soul