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A bill to amend the Internal Revenue Code of 1986 to extend the temporary increase in limitation on the cover over of distilled spirits taxes to Puerto Rico and the Virgin Islands.
To amend the Internal Revenue Code of 1986 to extend the temporary increase in limitation on the cover over of distilled spirits taxes to Puerto Rico and the Virgin Islands.
Summary
This bill extends a temporary increase in the amount of federal distilled spirits taxes that are transferred to Puerto Rico and the Virgin Islands. The bill amends the Internal Revenue Code to change the expiration date of this temporary increase from January 1, 2022 to January 1, 2032, extending it by ten years. The provision applies to distilled spirits brought into the United States after December 31, 2021. This allows Puerto Rico and the Virgin Islands to continue receiving an increased share of federal distilled spirits tax revenue through 2032.
AI-generated plain-language summary of the bill text — neutral, and may be imperfect. See the full text below for the exact wording.
Sponsor (1)
- Sen. Cassidy, Bill [R-LA] (R-LA)
Money behind the sponsor
Top reported contributors to Bill Cassidy’s campaign committee (2024 cycle) — who funds the bill’s sponsor, not a claim about this bill. Data from FEC.
- ANDREESSEN HOROWITZ $59,100
- GENERAL ATLANTIC $37,700
- WELSH CARSON ANDERSON & STOWE $33,870
- OCHSNER HEALTH SYSTEM $33,250
- RA CAPITAL MANAGEMENT $30,200
Organizations whose employees gave the most — itemized individual contributions grouped by the donor’s reported employer (FEC Schedule A). Full finance for Bill Cassidy → · Outside spending →
Actions (2)
- Jun 9, 2025 Read twice and referred to the Committee on Finance. · senate
- Jun 9, 2025 Introduced in Senate
Similar bills (6)
Bills with similar text or summary — includes reintroductions across Congresses. Ranked by semantic similarity of the bill text (computed locally); a neutral discovery aid, not a claim the bills are duplicates.
Full text
IN THE SENATE OF THE UNITED STATES
June 9, 2025
Mr. Cassidy introduced the following bill; which was read twice and referred to the Committee on Finance
A BILL
To amend the Internal Revenue Code of 1986 to extend the temporary increase in limitation on the cover over of distilled spirits taxes to Puerto Rico and the Virgin Islands.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. EXTENSION OF TEMPORARY INCREASE ON COVER OVER OF DISTILLED SPIRITS TAXES TO PUERTO RICO AND VIRGIN ISLANDS.
(a) In General.—Section 7652(f)(1) of the Internal Revenue Code of 1986 is amended by striking “January 1, 2022” and inserting “January 1, 2032”.
(b) Effective Date.—The amendments made by this section shall apply to distilled spirits brought into the United States after December 31, 2021. <all>
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