Bill Before Congress Would Tax Handguns Sales At 20 Percent; Ammo At 50 Percent

Bill Before Congress Would Tax Handguns Sales At 20 Percent; Ammo At 50 Percent

August 26, 2013 by Ben Bullard

Two Democratic Congressmen are sponsoring a House bill that seeks to place a Federal tax on the sale handguns and ammunition.
House Bill 3018, sponsored by Danny Davis (D-Ill.) and Bill Pascrell (D-N.J.), would amend current Internal Revenue Code to assess a 20 percent tax on “pistols” and “revolvers” and a 50 percent tax on “shells and cartridges.”
The bill, titled the “Gun Violence Prevention and Safe Communities Act of 2013,” aims to reduce the incidence of violent shootings by dissuading gun buyers from purchasing so doggone much ammunition and, to a lesser extent, the guns that shoot it, all while stockpiling additional tax revenues for use at the Feds’ discretion.
Pascrell has said he believes the tax is “a long time coming” and that Federal revenues raised from the tax increase could subsidize police departments across the country.
Congressman Pascrell estimates the tax hike on guns would amount to additional $600 million in Federal revenues each year.
Filed Under: Liberty News, Staff Reports


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