Dear Client: Today the report on “Competition in the Markets for Beer, Wine, and Spirits” hit, resulting from Biden’s 2021 Executive Order on Competition. Spoiler alert: We have to believe it’s making the BA pretty happy, as it encourages further scrutiny of big-on-small-brewer deals; encourages the TTB to reduce burdens on small producers; and even calls the entire three-tier system into question at the state level. (You can read it here. As our excellent editor Jordan notes, the “meat” is
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