Sponsors (34)
The bill reduces costs and regulatory burdens for firearm owners and dealers by repealing the firearm transfer excise tax and blocking new CPSC rules for NFA firearms, but it removes a federal revenue stream and narrows consumer-safety oversight, creating fiscal, implementation, and public-safety trade-offs.
Buyers and sellers of firearms will no longer pay the federal firearm transfer excise tax, lowering transaction costs for individuals and small businesses engaged in transfers.
Federal firearm dealers and gun retailers will save on tax compliance and administrative costs tied to collecting and reporting the transfer excise tax.
Owners and dealers of NFA-regulated firearms will avoid new CPSC safety regulations, preventing additional compliance costs for those owners and dealers.
All taxpayers and federally funded programs face reduced revenue: repealing the transfer excise tax eliminates a revenue stream, raising deficit risk or reducing funds available for programs previously supported by those receipts.
Removing the tax reduces a price disincentive on firearm transfers, which could increase the number of transfers and complicate public-safety monitoring for law enforcement and first responders.
Limiting CPSC authority over NFA firearms could create consumer-safety gaps and reduce opportunities for recalls or safety interventions that protect owners and bystanders.
Based on analysis of 3 sections of legislative text.
Introduced April 1, 2025 by Ashley Hinson · Last progress April 1, 2025
Repeals the federal firearm transfer tax in the Internal Revenue Code and updates related code cross-references. The repeal applies to transfers that occur after the law takes effect and also makes clear that the change does not place firearms regulated under the National Firearms Act under the Consumer Product Safety Commission’s authority.