S. 2251 · 116th Congress
AGED Spirits Act
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Never voted on. It didn't reach a floor vote before the 116th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
McConnellSponsor1 cosponsor · 1 R
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Advancing Growth in the Economy through Distilled Spirits Act or the AGED Spirits Act
What it does: CRS summary · Introduced in Senate · Jul 24, 2019
Advancing Growth in the Economy through Distilled Spirits Act or the AGED Spirits Act
This bill amends the Internal Revenue Code to exclude, after 2019, the aging period from the production period for distilled spirits, for purposes of determining whether a taxpayer can expense, rather than capitalize, interest costs paid or incurred during the production period. This allows producers of distilled spirits to deduct interest expense associated with production in the year it is paid.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: AGED Spirits Act
Also known as: Advancing Growth in the Economy through Distilled Spirits Act
Latest action (Jul 24, 2019): Read twice and referred to the Committee on Finance. (text: CR S5064)
Policy area: Taxation · Origin: Senate · Introduced: Jul 24, 2019
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.