YOUR CONGRESS AT WORK: Legislation Will Help Kentucky’s Bourbon Producers.

Senate Majority Leader Mitch McConnell, Senator Rand Paul, Congressmen James Comer and Bret Guthrie have put their names on two pieces of legislation which they say will help the state’s bourbon producers.

The Advancing Growth in the Economy through Distilled (AGED) Spirits Act was filed in the U.S. Senate and it would help bourbon producers on their tax returns. Under current law, interest expenses are not deducted until the Bourbon is bottled and sold, which could be anywhere from 2 to 23 years after aging. This situation has been likened to a homeowner not being able to deduct the interest on a home mortgage until the sale of the house.

Eric Gregory, President, Kentucky Distillers’ Association, said, the act will free important capital on aging barrels, allowing distilleries to increase investments and create more jobs.

Sadly, there’s no legislation that can speed up the aging process, so it’s going to be a long while yet before bourbon producers are able to catch up with booming demand.