It’s worse than that. Notice the part about “all members of the public” below in regards to the database. And there are other elements of the bill that are worse than what you saw in that comment.
H.R. 127: Sabika Sheikh Firearm Licensing and Registration Act
https://www.govtrack.us/congress/bills/117/hr127/text
[Tiny Excerpt:]
“(3)Database
(A)In general
The Attorney General shall establish and maintain a database of all firearms registered pursuant to this subsection.
(B)Access
The Attorney General shall make the contents of the database accessible to all members of the public, all Federal, State, and local law enforcement authorities, all branches of the United States Armed Forces, and all State and local governments, as defined by the Bureau.”
$800 firearm insurance would pose a hardship on some people.