(PD) - North Coast Rep. Mike Thompson proposed a series of federal tax breaks Monday for the U.S. wine industry, including a proposal to slash a tax on sparkling wine that has lingered since the aftermath of Prohibition.

The St. Helena Democrat, who owns a vineyard in Lake County, teamed up with Rep. Dave Reichert, R-Wash., to propose a sweeping overhaul of the laws that brought in $1.07 billion in federal excise taxes from the U.S. wine industry during the last fiscal year.

Thompson and Reichert contend the bipartisan legislation will help spur new and innovative products by modernizing federal excise taxes on wine. While the cost of their bill has not yet been calculated, it would provide a major benefit for the North Coast wine industry, which harvested $1.1 billion in wine grapes for the 2015 vintage.

“The tax code should not be an impediment to growth and innovation,” Thompson said in a statement.

The legislation would be especially helpful to producers of sparkling wine. Thompson’s bill would reduce federal excise taxes on sparkling wine to $1.07 a gallon, the tax rate for still wine, down from $3.40 a gallon, where it has stood since 1955.

“We are being taxed at three times the rate. ... The only reason is that we have bubbles in the wine,” said Gary Heck, owner of Korbel Champagne Cellars in Guerneville. “It hits your bottom line pretty hard.”