Firearms and Ammunition Excise Tax Improvement Act Moves Forward in the Senate

[Gunreference1]

Firearms and Ammunition Excise Tax Improvement Act Moves Forward in the Senate

Submitted by cbaus on Thu, 07/15/2010 - 15:00.

Senate Majority Leader Harry Reid (D-Nev.), joined by Sen. Max Baucus (D-Mont.), Sen. Mike Crapo (R-Idaho) and a bipartisan group of senators, offered the Firearms Fairness and Affordability Act of 2010 (S. 632) as an amendment (No. 4444) to the Small Business Lending Act (HR 5297), which is now pending in the Senate. Earlier this week, the House passed (412-6) the Firearms Excise Tax Improvement Act (HR 5552).

Sens. Baucus was the original sponsor of S. 632 and Sen. Crapo the lead co-sponsor.

The bi-partisan legislation, sponsored by Rep. Ron Kind (D-WI) had 54 original co-sponsors and sailed through the House on a voice-vote. This legislation corrects a longstanding inequity in the Internal Revenue Code by permitting firearm and ammunition manufacturers to pay the federal excise tax payment on a quarterly basis, like other industries that support conservation through a federal excise tax. Currently, manufacturers pay this tax on a bi-weekly schedule, forcing many manufacturers to borrow money to ensure on-time payment. Industry members spend thousands of man-hours administering the necessary paperwork to successfully complete the bi-weekly tax payments -- monies that are due to the federal government long before manufacturers are paid by their customers.

HR 5552 revised an earlier bill (HR 510) to ensure that the legislation would not add to the budget deficit. The change to a provision of the tax code will not affect conservation funding and the legislation does not lower the amount of conservation dollars collected by the tax.

"This bill will strengthen wildlife conservation funding in America by helping manufacturers to grow their businesses," said NSSF Senior Vice President and General Counsel Lawrence G. Keane. "We are thankful for the tremendous support and leadership of Representatives Ron Kind, sponsor of this bill, and Paul Ryan (R-WI), co-chairman of the Congressional Sportsmen's Caucus, for championing this commonsense legislation."

The firearm and ammunition excise tax is the major revenue source for funding the Wildlife Restoration Trust Fund (also known as the Pittman Robertson Trust Fund). Last year, firearm and ammunition manufacturers contributed approximately $450 million dollars to wildlife conservation through excise tax payments.

Passage of HR 5552 would not have been possible without the hard work of many organizations including a broad coalition of more than 35 conservation groups who are members of the American Wildlife Conservation Partners (AWCP). This coalition includes the National Rifle Association (NRA), Ducks Unlimited, Safari Club International (SCI) and the Congressional Sportsmen's Foundation (CSF), which made passage of this bill a priority.

The U.S. Fish and Wildlife Service and the Association of Fish and Wildlife Agencies (AFWA) also support this legislation. In addition, the Internal Revenue Service -- Tax and Trade Bureau (TTB) that collects the excise tax supports the legislation as it would reduce its work load thereby saving taxpayers money. In fact, there is no organized opposition to this pro-conservation, pro-growth, bi-partisan legislation.

"With passage of excise tax improvement in the House, it is our hope that the Senate, behind the strong leadership of Majority Leader Harry Reid (D-Nev.) and Senators Max Baucus (D-MT) and Mike Crapo (R-ID), co-chairman of the Congressional Sportsmen's Caucus, will act fast to bring companion legislation up for a vote," continued Keane.

NSSF is encouraging all sportsmen, hunters and gun-owners to contact their senators and urge them to support excise tax improvement legislation in the Senate. Contact your Senator at 202-224-3121 and urge them to support Amendment 4444 to HR 5297.

S 632 - http://thomas.loc.gov/cgi-bin/query/z?c111:S.632:

HR 5297 - http://frwebgate.access.gpo.gov/cgi-bin/getdoc.cgi?dbname=111_cong_bills&docid=f:h5297pcs.txt.pdf

HR 5552 - http://thomas.loc.gov/cgi-bin/query/D?c111:3:./temp/~c1113gu32K::

http://www.buckeyefirearms.org/node/7350

Steve

[Blacksmith]

I hope it passes OK
I never realized how hard the IRS was on firearms manufacturers. forcing them to pay taxes before they can even receive payment can only be conceived as the IRS trying to force them out of business.
Just another way to get around that pesky old bill of rights.

[old Grump]

I can't believe Ron Kind is behind this, he ran on the platform that guns are dangerous and should be severely regulated. He was the district Attorney for Lacrosse and he never met a gun case he didn't want to prosecute or another person he could make ineligible to own or possess guns. Me thinks he see's handwriting on wall and is trying to show gun owners in Wisconsin that he is really on our side.

[Gunreference1]

Firearms Industry Applauds Landslide Passage of Excise Tax Improvement Legislation in U.S. Senate

Submitted by cbaus on Tue, 08/10/2010 - 15:00.

The National Shooting Sports Foundation (NSSF), trade association for the firearms, ammunition, hunting and shooting sports industry, hailed the recent passage of the Firearms Excise Tax Improvement Act of 2010 (H.R. 5552) by unanimous consent in the Senate.

The bill passed the House of Representatives at the end of June by a vote of 412-6. The House bill was sponsored by Rep. Ron Kind (D-Wisc.) and Rep. Paul Ryan (R-Wisc.). The Senate bill (S. 632) was sponsored by Sen. Max Baucus (D-Mont.) and had 30 cosponsors, including lead co-sponsor Sen. Mike Crapo (R-Idaho) who co-chairs the Congressional Sportsmen's Caucus.

This legislation corrects a longstanding inequity in the Internal Revenue Code by permitting firearm and ammunition manufacturers to pay the federal excise tax payment on a quarterly basis, just as other industries that support conservation through a federal excise tax do. Currently, firearms and ammunition manufacturers pay this tax on a bi-weekly schedule, forcing many manufacturers to borrow money to ensure on-time payment. Industry members spend thousands of staff-hours administering the necessary paperwork to successfully complete the bi-weekly tax payments—monies that are due to the federal government long before manufacturers are paid by their customers.

Importantly, HR 5552 pays for itself and does not add to the budget deficit. Nor does the bill lower the amount of conservation dollars collected by lowering the tax rate. It simply adjusts the payment schedule to a quarterly period.

"This bill strengthens wildlife conservation funding in America," said NSSF Senior Vice President and General Counsel Lawrence G. Keane. "By enabling manufacturers to grow their businesses, excise tax receipts will actually grow. We are thankful for the tremendous support and leadership of Senators Max Baucus and Mike Crapo. Clearly, their vision in championing this bipartisan, pro-conservation, pro-business legislation allowed for smooth passage of the bill."

Keane added, "We also want to thank Majority Leader Harry Reid for expediting the legislative process by allowing the Senate to vote on the House-passed version of the bill. Senator Reid has long supported and fought for issues important to our industry and for hunters and gun owners both in Nevada and across the United States."

The firearm and ammunition excise tax is the major revenue source for funding the Wildlife Restoration Trust Fund (also known as the Pittman-Robertson Trust Fund). Last year, firearm and ammunition manufacturers contributed approximately $450 million dollars to wildlife conservation through excise tax payments.

Passage of HR 5552 would not have been possible without the hard work of many organizations, including a broad coalition of more than 35 conservation groups that are members of the American Wildlife Conservation Partners. This coalition includes the National Rifle Association, Ducks Unlimited, Safari Club International and the Congressional Sportsmen's Foundation, which made passage of this bill a priority.

The U.S. Fish and Wildlife Service and the Association of Fish and Wildlife Agencies also supported this legislation as did the Internal Revenue Service-Tax and Trade Bureau, which collects the excise tax. There is no organized opposition to this legislation.

"With passage of excise tax improvement in the House and Senate, it is our hope that President Obama will act fast to sign this legislation into law," said Keane.

http://www.buckeyefirearms.org/node/7382

Steve

[Partisan1983]

....should have been a amendment at the last minute......to repel the '86 ban.

[Gunreference1]

President Signs Industry Excise Tax Bill into Law

Submitted by cbaus on Fri, 08/27/2010 - 07:00. National Politics
by Larry Keane

The President has signed into law the Firearms Excise Tax Improvement Act of 2010 (H.R. 5552). The bill passed the House of Representatives at the end of June by a vote of 412-6 and on August 5 it cleared the Senate by unanimous consent.

This important legislation corrects a longstanding inequity in the Internal Revenue Code by permitting firearm and ammunition manufacturers to pay the federal excise tax payment on a quarterly basis, just as other industries that support conservation through a federal excise tax do. Currently, firearms and ammunition manufacturers pay this tax on a bi-weekly schedule, forcing many manufacturers to borrow money to ensure on-time payment. Industry members spend thousands of staff-hours administering the necessary paperwork to successfully complete the bi-weekly tax payments — monies that are due to the federal government long before manufacturers are paid by their customers.

Importantly, HR 5552 pays for itself and does not add to the budget deficit. Nor does the bill lower the amount of conservation dollars collected by lowering the tax rate. It simply adjusts the payment schedule to a quarterly period.

The firearm and ammunition excise tax is the major revenue source for funding the Wildlife Restoration Trust Fund (also known as the Pittman-Robertson Trust Fund). Last year, firearm and ammunition manufacturers contributed approximately $450 million dollars to wildlife conservation through excise tax payments.

The signing of HR 5552 into law is a major victory for America's firearms industry, sportsmen and conservation advocates everywhere.

http://www.buckeyefirearms.org/node/7411

Steve