Legis Daily

AGED Spirits Act

USA116th CongressHR-4284| House 
| Updated: 9/11/2019
John A. Yarmuth

John A. Yarmuth

Democratic Representative

Kentucky

Cosponsors (5)
Brett Guthrie (Republican)Thomas Massie (Republican)Andy Barr (Republican)James Comer (Republican)Harold Rogers (Republican)

Ways and Means Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
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.
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Timeline
Jul 24, 2019

Latest Companion Bill Action

S 116-2251
Introduced in Senate
Sep 11, 2019
Introduced in House
Sep 11, 2019
Referred to the House Committee on Ways and Means.
  • July 24, 2019

    Latest Companion Bill Action

    S 116-2251
    Introduced in Senate


  • September 11, 2019
    Introduced in House


  • September 11, 2019
    Referred to the House Committee on Ways and Means.

Taxation

Related Bills

  • S 116-2251: AGED Spirits Act
Alcoholic beveragesBusiness investment and capitalIncome tax deductionsInterest, dividends, interest rates

AGED Spirits Act

USA116th CongressHR-4284| House 
| Updated: 9/11/2019
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.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline
Jul 24, 2019

Latest Companion Bill Action

S 116-2251
Introduced in Senate
Sep 11, 2019
Introduced in House
Sep 11, 2019
Referred to the House Committee on Ways and Means.
  • July 24, 2019

    Latest Companion Bill Action

    S 116-2251
    Introduced in Senate


  • September 11, 2019
    Introduced in House


  • September 11, 2019
    Referred to the House Committee on Ways and Means.
John A. Yarmuth

John A. Yarmuth

Democratic Representative

Kentucky

Cosponsors (5)
Brett Guthrie (Republican)Thomas Massie (Republican)Andy Barr (Republican)James Comer (Republican)Harold Rogers (Republican)

Ways and Means Committee

Taxation

Related Bills

  • S 116-2251: AGED Spirits Act
  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Alcoholic beveragesBusiness investment and capitalIncome tax deductionsInterest, dividends, interest rates