S.1224 - Repealing Illegal Freedom and Liberty Excises Act; RIFLE Act (119th Congress)
Summary
S.1224, also known as the RIFLE Act, aims to repeal the firearm transfer tax outlined in Section 5811 of the Internal Revenue Code of 1986. The bill also includes conforming amendments to other sections of the code to reflect this repeal. It explicitly states that the repeal should not be construed to 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 associated with legally transferring certain firearms. The changes would apply to transfers occurring after the enactment date of the Act.
Potential Benefits
- Reduced cost for legal firearm transfers, potentially increasing legal firearm ownership.
- Simplification of the tax code by removing specific firearm-related taxes.
- May stimulate the firearms industry due to lower costs for consumers.
- Reinforces the Second Amendment rights by removing a financial burden associated with firearm ownership.
- Clarifies regulatory oversight by explicitly excluding firearms from the Consumer Product Safety Commission's jurisdiction.
Most Benefited Areas:
Potential Disadvantages
- Potential decrease in federal revenue due to the elimination of the firearm transfer tax.
- May lead to an increase in firearm sales, potentially increasing the risk of firearms falling into the wrong hands (though this is speculative).
- Could be perceived as prioritizing gun rights over public safety by some.
- The revenue lost from the tax could have been used for other government programs.
- May face opposition from groups advocating for stricter gun control measures.
Constitutional Alignment
The bill aligns with the Second Amendment of the US Constitution, which protects the right of the people to keep and bear Arms. By repealing a tax on firearm transfers, the bill could be argued to reduce an infringement on this right. 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 bill does not appear to contradict any other specific provisions of the Constitution.
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).