(3) The manufacture, importation, possession, sale, and use of firearms and ammunition in the United States are heavily regulated by Federal, State, and local laws. Such Federal laws include the Gun Control Act of 1968, the National Firearms Act, and the Arms Export Control Act.
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Typical NRA doublespeak. Citizens have a RKBA, but they don't. The law says #1, why mention illegal legislation (#3) unless you're repealing it?
Citizens do have the right to keep and bear arms per the Second Amendment to the Constitution of the United States of America.
In the case of this legislation, the third finding of the Congress is that the industry in question is "heavily regulated." The finding, in and of itself, does not support that "heavily regulated" status.
The realities of the current situation, to which our attention should be focused, is that progress is made most often made incrementally, and very rarely in one fell swoop.
I for one would much rather support, and have the support of, an organization that knows how to play in the realities of the day rather than spin it's wheels and accomplish nothing in an attempt to get it all at once.