To amend the Internal Revenue Code of 1986 to increase the taxes on certain alcoholic beverages and to provide additional funds for alcohol abuse prevention programs.
Alcohol Tax Equalization Act of 1997 - Amends the Internal Revenue Code to increase the rate of tax on wine and beer. Provides for the treatment of floor stocks. Mandates a cost-of-living adjustment for the tax rates on distilled spirits, wine, and beer.
Establishes the Substance Abuse Prevention Trust Fund. Appropriates amounts to the Fund equivalent to the amounts received as a result of this Act. Makes amounts in the Fund available to the Substance Abuse and Mental Health Services Administration and the National Highway Traffic Safety Administration for alcohol abuse prevention programs.
Introduced in House
Introduced in House
Sponsor introductory remarks on measure. (CR E1306-1307)
Referred to House Ways and Means
Referred to the Committee on Ways and Means, and in addition to the Committee on Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Referred to House Commerce
Referred to the Subcommittee on Health and Environment, for a period to be subsequently determined by the Chairman.
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