Sponsors (15)
The bill reduces costs for firearm buyers and dealers and clarifies agency jurisdiction over NFA firearms, but does so by cutting federal excise-tax revenue and limiting CPSC consumer-safety authority—trading budgetary and public-safety oversight for lower prices and regulatory clarity.
Firearm purchasers and small-business firearm dealers will pay less because the federal firearm transfer excise tax on transfers is repealed, reducing purchase prices and dealer compliance costs.
Federal agencies retain clear, separate jurisdiction over NFA firearms (ATF/Treasury vs. CPSC), reducing the risk of regulatory overlap or conflicting rules.
Owners and manufacturers of NFA-regulated firearms avoid the risk of new CPSC-imposed safety standards, recalls, or other product-safety compliance actions that could impose costs or restrictions.
Taxpayers and the federal budget will lose revenue from repeal of the excise tax, likely increasing the deficit or forcing cuts/offsets to other programs.
Consumers and the public lose CPSC consumer-product safety oversight for NFA firearms, meaning recalls, defect investigations, and other CPSC enforcement tools cannot be applied even if safety hazards emerge.
Repealing the excise tax removes a fiscal disincentive linked to firearm transfers, which could modestly increase transfers and raise public-safety concerns for communities and law enforcement.
Based on analysis of 3 sections of legislative text.
Eliminates the federal firearm transfer tax (IRC §5811) and updates related code references; applies to transfers after enactment.
Repeals the federal firearm transfer tax in the Internal Revenue Code and updates related tax-code references so transfers after enactment are no longer subject to that tax. The bill also clarifies that this repeal does not expand or transfer authority over NFA-regulated firearms to the U.S. Consumer Product Safety Commission. The changes apply to firearm transfers occurring after the date of enactment and include conforming edits to other tax-code provisions that previously referenced the repealed tax provision.
Introduced April 1, 2025 by Thomas Bryant Cotton · Last progress April 1, 2025