Posted on 01/23/2012 2:29:20 PM PST by mnehring
NRA-Backed Firearms and Ammunition Excise Tax Passes Unanimously in U.S. Senate -- Bill Passed in U.S. House by 412-6 Vote in June
By unanimous consent, the U.S. Senate on Thursday passed H.R. 5552 -- the Firearms Excise Tax Improvement Act -- sponsored by Congressmen Ron Kind (D-WI) and Paul Ryan (R-WI). S. 632, its Senate companion, was sponsored by Senators Max Baucus (D-MT) and Mike Crapo (R-ID).
“I would like to thank Senators Baucus and Crapo for their leadership in helping secure passage of this measure,” said Chris W. Cox, NRA’s chief lobbyist. "Firearm and ammunition manufacturers were unfairly mandated to pay their excise taxes biweekly while all other manufacturers paid their taxes quarterly. This was an undue burden on the industry. In addition to being equitable, the change to a quarterly excise tax payment schedule will allow manufacturers to reinvest funds into researching and developing new products, purchasing new manufacturing machinery and creating jobs without establishing a new tax, adding to the burgeoning federal deficit, or using any bailout money.”
The Joint Committee on Taxation has estimated that this legislation will create a net revenue increase of $4 million over ten years. Accordingly, S. 632 will increase funding for wildlife conservation through the Pittman-Robertson Wildlife Restoration Trust Fund. The Pittman-Robertson Wildlife Restoration Trust Fund, established by enactment of federal legislation in 1937, authorizes the development of wildlife restoration projects across the country. This legislation will neither raise taxes nor exempt firearm and ammunition manufacturers from paying federal excise taxes into the Pittman-Robertson Wildlife Restoration Trust Fund.
H.R. 5552, the House companion of S. 632, passed in the U.S. House of Representatives on June 29 by 412-6 margin with only a handful of congressmen -- John Conyers (D-MI), Sam Farr (D-CA), Dennis Kucinich (D-OH), Jerry Nadler (D-NY), Ron Paul (R-TX) and Maxine Waters (D-CA) -- voting against this common-sense measure. To view this roll call vote, click on: http://clerk.house.gov/evs/2010/roll400.xml.
The bill now goes to the President for his signature.
What taxes are placed on Canadian and Mexican Ammo Sales?
” The Pittman-Robertson Wildlife Restoration Trust Fund, established by enactment of federal legislation in 1937, “
‘There is nothing so permanent as a temporary Government program” — Ronald Reagan
Well Ron Paul keeps proving he is a complete Rat. His bunch keeps sending fancy fliers, I use them unread to start the fire in the wood stove in my shop. Works great, bulls**t will start a fire.
Considering he’s the most solidly pro-2nd around, I’m sure he had a reason.
There have been more than a few NRA-backed measures over the years that I wish never had passed. This isn’t necessarily one of them.
Also, I believe that imported ammo and guns are subject to the same excise tax.
Q: is a 10% tax on a fundamental rights an “infringment”?
too late, my latest additions ship this week.
and ammo....no worries for at least 10 years....
The NRA backed this? I guess it is another of their “give a little to get a little” excuses. Who the hell is running the NRA anyhow? Did I see Paul Ryan’s name on this legislation?
In addressing your question, ask yourself if democraps would tolerate a 10% excise tax on any and all abortions? The progressive dead-souls consider the right to kill an alive unborn child to be a fundamental right ...
another no read comment?
Ok, I guess this looks like an improvement over how things were. But it still remains a question mark for me.
too late, my latest additions ship this week.
It didn’t impose a new tax, it changed when they had to send in the money, to make it the same as other excise tax collections.
I’m guessing there is some sort of interest rate involved, such that by waiting 3 months the government gets a little extra money, but 4 million over 10 years is a rather small amount of extra money.
And I’d guess Ron Paul opposed it because he probably opposes having ANY excise tax, and therefore wouldn’t vote to change the date of collection because that would implicitly accept the notion of an excise tax. It’s how he thinks, and so long as it makes no difference in passing a bill, he has that luxury. If he had actually caused this fix to fail, I would bet he wouldn’t have voted this way.
I say that because he voted to oppose the payroll tax holiday when it didn’t matter, but when his lone objection would have stopped them from passing it last Christmas, he pointedly stayed out of town rather than making that objection.
I see that now. I jump every time I see tax. My mistake.
Jukeman, did you read he article? This is a very good thing for ammo manufacturers and I would have been shocked if the NRA had not backed it.
Think of it this way. If you are self employed you must make quarterly estimated income tax deposits. Ammo manufactures that have had to make excise tax deposits every other week will now only have to make them quarterly like most other taxes.
I should have read further before I made the leap. I realized my error after the fact but thanks for your explanation.
I’ve done it too. But you got to read the article before typing. :o)
Ahh. Look at that. You did go back and read it. LOL.
4 more apologies and your penance might be done. :o)
(I actually am LMAO. Sorry.)
I jumped to soon to a conclusion and realized my mistake after commenting. I said to myself, “wait a minute, this is good.” Well, just chalk it up to a dithering old man. Sometimes we get caught up in the moment and memories of Charlie’s Angels or some such.
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