BAUCUS INTRODUCES BILL TO HELP GUN MANUFACTURERS
Senate Finance Committee Chairman's Measure Will Make It Easier To File Taxes
July 24, 2008
(Washington, D.C.) – Montana’s senior U.S. Senator Max Baucus today introduced legislation that would make it easier for gun manufacturers to file their taxes.
Baucus, chairman of the powerful Senate Finance Committee today introduced the Firearms Fairness and Affordability Act. The firearm and ammunition industry pay a federal excise tax of 11 percent on long guns and ammunition and 10 percent on handguns. This tax is collected by the U.S. Treasury, Tax and Trade Bureau and given to the U.S. Fish and Wildlife Service where it is deposited into the Wildlife Restoration Trust Fund, commonly referred to as the Pittman-Robertson Trust Fund. The tax goes toward hunter education programs, wildlife enhancement, and increased access to public lands.
Of all the industries that pay excise taxes on the sale of their products to support wildlife conservation efforts, firearms and ammunition manufacturers are the only ones that pay excise taxes on a bi-weekly basis. Other industries, such as archery and fishing, pay their tax on a quarterly basis. This imposes a costly and inequitable burden on the firearms and ammunition industry.
Baucus’ bill would simplify the process so that firearm and ammunition manufacturers would pay the excise tax on a quarterly basis like all other industries.
“I’m an avid supporter of the second amendment. My legislation will help cut bureaucratic red tape and help the firearm industry save resources,” Baucus said. “At the same time this bill will help preserve our outdoor heritage. This is a good bill and I’ll work together with my colleagues to get this passed.
Baucus’ bill is supported by a variety of organizations including the National Rifle Association.
"There is an anomaly in our tax code that unreasonably burdens and penalizes our firearm and ammunition industries. These industries must pay their firearm and ammunition excise tax bi-weekly while other industries are only required to make quarterly payments. This is an equitable bill that levels the playing field for all. The NRA is grateful to Senators Baucus and Crapo for their leadership on this matter," said Chris W. Cox, Executive Director of the National Rifle Association’s Institute for Legislative Action.
Baucus’ bill is also supported by the National Shooting Sports Foundation, Inc., Association of Fish and Wildlife Agencies, Ducks Unlimited, Congressional Sportsmen’s Foundation, National Wild Turkey Federation, Safari Club International, Delta Waterfowl, Wildlife Management Institute, U.S. Sportsmen’s Alliance and Archery Trade Association, Boon and Young, Pheasants Forever, and U.S. Fish and Wildlife Service.
Baucus’ Firearms Fairness and Affordability Act will be referred to the Senate Finance Committee.
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