Everything is expensive right now. The price of gas, groceries, houses… even wheat has exploded this year. But a proposed bill in the Michigan House has everyone; farmers, brewers, distillers, and consumers alike cheering out loud.
Here's Five Fast Facts …… :
- 🤕 Ouch, that hurts - Right now in Michigan, distilleries and breweries pay a whopping 65% tax when they sell their products to stores. That's a kick in the hops, isn't it?
- ✂️ The cut - Proposed House Bill 4842 would cut that tax in half – down to 32.5%. More money back to the distilleries means they can be more competitive with their prices (cheap beer!), re-invest in their business, or put more people to work. (We vote for cheap beer.)
- 🌾 The rub - To take advantage of the proposed tax break, distillers would need to use Michigan crops to make their products. Today it's cheaper for brewers to buy in bulk from large agricultural companies. This tax break would change that.
- 🚜 Down on the Farm - Sure, this bill would give the distilleries a tax break, but it could also mean more business for local Michigan farmers. Old McDonald sure can't complain about that.
- 🍻 Don't raise your glass yet - It sounds like a win-win, but it still needs to pass a vote in the Michigan House of Representatives and then be signed into law by Big Gretch. But we all know she's a beer fan, so hopefully, this is a no-brainer.
🔥Bottom line: Beer is good. Having reasonably priced beer is better. Helping local farmers in the process is the best. Let's do this, Michigan.
Do you know a Michigan farmer or brewer who would benefit from this bill? Let us know by connecting with us on Social Media, and be sure to share this newsletter with any friends & coworkers!
Btw, If you've read this far and haven't yet signed up for the weekly Paycheckology newsletter, CLICK HERE!
