AmmoLand.com

Major Victory For Firearms, Ammunition Manufacturers & Wildlife Conservation

Congressional Sportsmen’s Foundation

WASHINGTON, DC –-(AmmoLand.com)- The United States House of Representative today passed a major piece of pro-sportsmen legislation to help firearm and ammunition manufacturers to grow business and help strengthen wildlife conservation funding.

H.R. 5552 the “Firearms Excise Tax Improvement Act of 2010” or so-called FAET legislation, sponsored by current Congressional Sportsmen’s Caucus (CSC) Member and former Co-Chair, Rep. Ron Kind, co-sponsored by 76 House members including many members of the CSC, and supported by the sportsmen community, was passed overwhelmingly 412-6 this afternoon.

“Today is a major victory for firearms and ammunition manufacturers who will now be treated equally under the U.S. tax code and as a result will be able to reinvest funds into researching and developing new products, purchasing new manufacturing machinery, and creating jobs,” said CSF President Jeff Crane. “This legislation will help to continue funding major conservation efforts throughout the nation via the Pittman-Robertson Wildlife Restoration Trust Fund.”

Rep. Kind introduced this legislation as a revision of H.R. 510, a bill co-sponsored by CSC Co-Chair Rep. Paul Ryan, which aimed to reverse the current practice that requires firearms and ammunition manufacturers to pay excise taxes more frequently (every two weeks) than other sporting goods industries. This payment schedule forces many manufacturers to borrow money to ensure on-time payment, and industry members spend thousands of man-hours administering the paperwork to successfully complete the payments — monies that are due long before manufacturers are paid by their customers.

“I’m proud to have authored this important legislation to help our firearms manufacturers focus on core business practices over frequent tax payments, better reach sportsmen, ultimately grow their business, and continuously support conservation programs nationwide,” said Rep. Kind.

“This legislation harmonizes the tax payment schedule with the other businesses who contribute excise taxes paid into the Pittman-Robertson fund,” said Rep. Ryan. “H.R. 5552 will take away this burdensome tax compliance regulation to make sure that firearms and ammunition manufacturers who provide millions of jobs are an integral part of the backbone of conservation funding in America.”

This bill addresses concerns about the budgetary implications of the original legislation and explicitly complies with statutory Pay-Go rules and does not add a penny to the deficit or create a new tax while also maintaining the current level of conservation dollars generated by the tax.

“This legislation 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 Rep. Kind and Rep. Ryan, co-chair of the Congressional Sportsmen’s Caucus, for championing this commonsense bill.”

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 CSC made passage of this bill to reform the federal excise tax a legislative priority in the 111th Congress. The effort was supported by a broad coalition of sportsmen and conservation groups, including the Congressional Sportsmen’s Foundation (CSF), National Shooting Sports Foundation (NSSF), National Rifle Association (NRA), and Safari Club International (SCI).

Filed under: Shooting Industry News by Ammoland No Comments »

Congressional Sportsmen’s Caucus Advances Firearms and Ammunition Tax Reform

Congressional Sportsmen’s Foundation

WASHINGTON, DC --(Ammoland.com)- Rep. Ron Kind, current member and former Co-Chair of the Congressional Sportsmen’s Caucus (CSC), recently introduced H.R. 5552 the “Firearms Excise Tax Improvement Act of 2010” to strengthen wildlife conservation funding in America by helping firearm and ammunition manufacturers grow their businesses.

Rep. Kind introduced this legislation as a revision of H.R. 510, a bill co-sponsored by CSC Co-Chair Rep. Paul Ryan, which aimed to reverse the current practice that requires firearms and ammunition manufacturers to pay excise taxes more frequently (every two weeks) than other sporting goods industries. The modified bill addresses concerns about the budgetary implications of the original legislation and explicitly complies with statutory Pay-Go rules and does not add a penny to the deficit or create a new tax.

Switching to a quarterly excise tax payment system would allow manufacturers to reinvest funds into researching and developing new products, purchasing new manufacturing machinery, and most importantly creating jobs. In addition, since proceeds from the excise taxes are used for conservation, the growth of the industry expected upon passage of the legislation would increase funding for conservation efforts.

“This common sense legislation will not only increase business efficiency, but it will allow manufacturers to reinvest funds into research and development and will create jobs in our communities,” said Rep. Kind.

“I have been a long-time supporter of conservation efforts. I’m pleased this bill benefits industry and conservationists alike and continues to contribute critical funding for the development of wildlife restoration projects across the country – ensuring our natural resources are protected for future generations.”

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.

“We applaud Congressman Kind for introducing legislation revising the Firearms Excise Tax Improvement Act of 2010 so that it complies with statutory Pay-Go rules and does not add to the deficit,”said National Shooting Sports Foundation (NSSF) Senior Vice President and General Counsel Lawrence G. Keane.

“This bill will strengthen wildlife conservation funding in America by helping manufacturers to grow their businesses.”

CSF and members of the American Wildlife Conservation Partners (AWCP) sent a letter of support to the Chairman and Ranking Member of the U.S. House Ways and Means Committee last week on behalf this latest effort to reform the payment schedule.

“Correcting this inequity will not only help the firearms and ammunition industry remain competitive in the global market, but will also promote increasingly vital conservation efforts,” said CSF Vice President of Policy Gary Kania.

“This legislation provides a rare win-win situation for everyone involved by correcting this inequity will help the industry grow and help fund major conservation efforts.

About:
We can have the best wildlife habitat imaginable and a record number of people who buy fishing and hunting licenses, but it won’t matter if misguided laws and regulations are made at the federal and state levels that negatively impact our outdoor traditions. Keeping sportsmen’s issues front and center is what the Congressional Sportsmen’s Foundation does. Day in and day out, our sole focus is on providing a voice for sportsmen in the political arena. Serving as the first line of defense in protecting America’s outdoor traditions as well as promoting the sportsmen’s agenda through the collective muscle of sportsmen’s caucuses. Visit: www.sportsmenslink.org

Filed under: Shooting Industry News by Ammoland 1 Comment »