H.R.2552 - Repealing Illegal Freedom and Liberty Excises Act; RIFLE Act (119th Congress)
Summary
H.R.2552, also known as the RIFLE Act, proposes to repeal the firearm transfer tax outlined in Section 5811 of the Internal Revenue Code of 1986. The bill includes conforming amendments to other sections of the code to reflect this repeal. It also clarifies that the Act does not place firearms regulated under the National Firearms Act under the jurisdiction of the Consumer Product Safety Commission.
Expected Effects
If enacted, the RIFLE Act would eliminate the federal tax on firearm transfers. This would reduce the cost of firearm ownership and transfers, potentially impacting the revenue collected by the federal government. The Act aims to ensure that firearms remain outside the purview of the Consumer Product Safety Commission.
Potential Benefits
- Reduced cost of firearm ownership for individuals.
- Potential increase in firearm sales due to lower costs.
- Simplification of the tax code by eliminating a specific tax.
- Reinforcement of Second Amendment rights by reducing financial burden.
- Clarification of regulatory authority over firearms.
Most Benefited Areas:
Potential Disadvantages
- Potential decrease in federal revenue due to the elimination of the firearm transfer tax.
- Possible increase in gun violence if lower costs lead to increased firearm accessibility (this is a contentious point with varying viewpoints).
- Arguments that the tax serves as a deterrent to illegal firearm transfers.
- Concerns that repealing the tax could undermine efforts to regulate firearms.
- Potential need to find alternative funding sources to compensate for lost tax revenue.
Constitutional Alignment
The bill's alignment with the Constitution primarily revolves around the Second Amendment, which guarantees the right of the people to keep and bear Arms. Repealing the firearm transfer tax could be argued to support this right by reducing the financial burden associated with firearm ownership. However, the Constitution also grants Congress the power to lay and collect taxes (Article I, Section 8), so repealing a tax is also within its purview. The debate centers on whether the tax infringes upon the Second Amendment right.
Impact Assessment: Things You Care About ⓘ
This action has been evaluated across 19 key areas that matter to you. Scores range from 1 (highly disadvantageous) to 5 (highly beneficial).