Skip to comments.NRA-Backed Firearms and Ammunition Excise Tax Passes Unanimously in U.S. Senate...
Posted on 01/23/2012 2:29:20 PM PST by mnehring
NRA-Backed Firearms and Ammunition Excise Tax Passes Unanimously in U.S. Senate -- Bill Passed in U.S. House by 412-6 Vote in June
By unanimous consent, the U.S. Senate on Thursday passed H.R. 5552 -- the Firearms Excise Tax Improvement Act -- sponsored by Congressmen Ron Kind (D-WI) and Paul Ryan (R-WI). S. 632, its Senate companion, was sponsored by Senators Max Baucus (D-MT) and Mike Crapo (R-ID).
I would like to thank Senators Baucus and Crapo for their leadership in helping secure passage of this measure, said Chris W. Cox, NRAs chief lobbyist. "Firearm and ammunition manufacturers were unfairly mandated to pay their excise taxes biweekly while all other manufacturers paid their taxes quarterly. This was an undue burden on the industry. In addition to being equitable, the change to a quarterly excise tax payment schedule will allow manufacturers to reinvest funds into researching and developing new products, purchasing new manufacturing machinery and creating jobs without establishing a new tax, adding to the burgeoning federal deficit, or using any bailout money.
The Joint Committee on Taxation has estimated that this legislation will create a net revenue increase of $4 million over ten years. Accordingly, S. 632 will increase funding for wildlife conservation through the Pittman-Robertson Wildlife Restoration Trust Fund. The Pittman-Robertson Wildlife Restoration Trust Fund, established by enactment of federal legislation in 1937, authorizes the development of wildlife restoration projects across the country. This legislation will neither raise taxes nor exempt firearm and ammunition manufacturers from paying federal excise taxes into the Pittman-Robertson Wildlife Restoration Trust Fund.
H.R. 5552, the House companion of S. 632, passed in the U.S. House of Representatives on June 29 by 412-6 margin with only a handful of congressmen -- John Conyers (D-MI), Sam Farr (D-CA), Dennis Kucinich (D-OH), Jerry Nadler (D-NY), Ron Paul (R-TX) and Maxine Waters (D-CA) -- voting against this common-sense measure. To view this roll call vote, click on: http://clerk.house.gov/evs/2010/roll400.xml.
The bill now goes to the President for his signature.
Well, I think I’ve apologized to everyone on FR now.
11% for hand guns, FYI.
A .00000001 percent tax is an INFRINGEMENT. So are ALL federal gun laws.
Did you even read the article and find out what the bill does? Are you so stupid you can't see this is a good thing for ammo manufacturers?
Yep. Nobody actually reads here anymore....
“I love the man that can smile in trouble, that can gather strength from distress, and grow brave by reflection”.
It’s more than a convenience. The businesses will be able to take advantage of the time value of money and put it to work for them, instead of shipping it off to the feds.
Hey! I didn’t get a ‘harumph’ over here. ;^)
I’m about harumphed out but here goes: HARUMPH!
ROTFL With tendonitis creeping into my hands I have become more careful not to make posts that might require a dozen mea culpas to all the people TOO LAZY to read the replies or click on the “replies” button under the post in question. ;^)
Then keep well clear of the White House, because that place must be about to go nuclear with all the BS coming from the Resident.
I feel your pain. Don’t know what got into me. Could be because my bride has been watching the Ophra channel all afternoon about Ryan O’Neill and Farrah Fawcett. Whee! Sometimes you just have to turn a deaf ear, something I’ve learned during 48 years of marriage.
Ron Paul is the most Pro 2A candidate, so I am sure he had a reason.
According to SCOTUS, in the 1939 Miller decision, the answer to that is "Yes." The 2nd amendment stands in the way.
So did I, had to read it twice...!