Trump administration could lead to more drinking—through deregulation [MarketWatch]
Diageo plc (DEO)
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Source: MarketWatch
Trump administration could lead to more drinking—through deregulation Donald Trump may have unleashed the stock market’s “animal spirits” when he was elected president, but he could also mean big things for spirits themselves. Trump’s administration, when combined with the Republican party’s control of the House of Representatives and Senate, is expected by lobbyists to boost growth to the already-booming hard-alcohol category, which includes whiskey, vodka and other types of spirits. The newly inaugurated president says he does not touch the stuff, ever, but his “top administration priorities are shared by the spirits sector,” said Kraig Naasz, the chief executive officer of the Distilled Spirits Council, citing the potential for reduced regulation and changes to the tax code. Of particular interest to the industry is the Craft Beverage Modernization and Tax Reform Act, which would cut excise taxes and regulation on breweries and distilleries. Now, presuming that leads to reduced pro
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