{"id":202708,"date":"2024-05-23T11:10:30","date_gmt":"2024-05-23T16:10:30","guid":{"rendered":"https:\/\/www.gunsamerica.com\/digest\/?p=202708"},"modified":"2024-05-23T11:10:36","modified_gmt":"2024-05-23T16:10:36","slug":"u-s-senators-lead-charge-to-scrap-nfa-tax","status":"publish","type":"post","link":"https:\/\/gunsamerica.com\/digest\/u-s-senators-lead-charge-to-scrap-nfa-tax\/","title":{"rendered":"U.S. Senators Lead Charge to Scrap NFA Tax"},"content":{"rendered":"\n
\"\"
The above bar graph depicts the number of NFA firearms processed from applications captured in the NFRTR by Fiscal Year from FY 2005 to FY 2022. The RIFLE Act would remove the NFA tax on such items. (Photo: ATF<\/em>)<\/figcaption><\/figure>\n\n\n\n

<\/p>\n\n\n\n

<\/path><\/svg><\/span><\/span>Estimated reading time: <\/span>2<\/span> minutes<\/span><\/p>\n\n\n\n

In a bold move, Senators John Cornyn (R-TX) and Tom Cotton (R-AR), backed by 11 fellow Republicans, launched the Repealing Illegal Freedom and Liberty Excises (RIFLE) Act<\/a>. <\/p>\n\n\n\n

Their goal? To axe the hefty tax on firearms and accessories under the National Firearms Act (NFA<\/a>).<\/p>\n\n\n\n

Sen. Cornyn is all in.<\/p>\n\n\n\n

\u201cThis outdated tax must not continue to burden law-abiding Texans who want to exercise their Second Amendment rights,\u201d\u00a0said Sen. Cornyn in a press release<\/a> obtained by GunsAmerica.\u00a0<\/p>\n\n\n\n

\u201cOur commonsense legislation would remove this frivolous financial mandate, and I\u2019m glad to support it,” he added. \u00a0<\/p>\n\n\n\n

Sen. Cotton echoed this sentiment, emphasizing, “Law-abiding Americans who exercise their Second Amendment rights should not be subject to unnecessary taxes and restrictions preventing them from doing so.”<\/p>\n\n\n\n

SEE ALSO: S&W Model 1854 Production \u2014 NRA 2024<\/a><\/h2>\n\n\n\n

He pointed out that since its 1934 inception, the National Firearms Act has desperately needed an overhaul.<\/p>\n\n\n\n

A hefty crew of senators, including John Barrasso (R-WY) and Marsha Blackburn (R-TN), are rallying behind the bill. <\/p>\n\n\n\n

Congresswoman Ashley Hinson (IA-02) has also stepped up, introducing a sister bill <\/a>in the House, which has 43 co-sponsors. <\/p>\n\n\n\n

The issue at hand? A $200 tax stamp on certain firearms (SBRs, SBSs, full autos, AOWs) and accessories (suppressors) since 1934. ATF introduced the tax to “curtail, if not prohibit, transactions\u201d of certain firearms. <\/p>\n\n\n\n

Since 2018, the ownership of these items has spiked by over 250%, with an estimated 7 million NFA items in circulation<\/a> as of 2021. <\/p>\n\n\n\n

Supported by powerhouses like the National Rifle Association (NRA) and the National Shooting Sports Foundation (NSSF), the RIFLE Act aims to lift this financial load off the shoulders of gun owners and prospective gun owners. <\/p>\n\n\n\n

Would President Biden ever sign the RIFLE Act into law? Heck no! But hopefully, his days as president are coming to an end this November. <\/p>\n\n\n\n

*** Buy and Sell on GunsAmerica!<\/a> ***<\/em><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

\u201cThis outdated tax must not continue to burden law-abiding Texans who want to exercise their Second Amendment rights,\u201d said Sen. 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