
U.S. Senate Majority Leader Mitch McConnell and U.S. Sen. Rand Paul, both of Kentucky, say the legislation they introduced Monday would level the playing field for American distillers of bourbon and whiskey with foreign competitors and makers of spirits that don't need to age.
The senators' "Advancing Growth in the Economy through Distilled (AGED) Spirits Act" would allow distilleries to deduct interest expense associated with production in the year it's paid — instead of when the product is sold,…
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