Higgins wants rum tax repealed

iggins has begun efforts to repeal an existing tax law on all imported, as well as domestically produced rum products, to level the playing field between local and imported rum industries.

Higgins measure, H.R. 3476, would allow U.S. rum producers to better compete with Producers in the territories of Puerto Rico and the United States Virgin Islands.

Section 215 of the Caribbean Basin Economic Recovery Act (CBERA), originally enacted on August 5, 1983, gives preferential treatment for eligible articles from designated beneficiary countries. In addition, CBERA provides that all revenue from federal excise taxes on rum imported into the US from any source, including any foreign country, is remitted to the treasuries of Puerto Rico and USVI.

Louisiana produces more sugar cane than Puerto Rico and Islands, yet the US has a higher tax on sugar cane that is produced specifically for rum. American rum industries have no exemptions and rum is the only imported spirit that falls under this tax law.

Short URL: https://www.jenningsdailynews.net/?p=44296

Posted by on Sep 21 2017. Filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.

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