The National Shooting Sports Foundation (NSSF) and others have issued statements recently expressing their support of that passage of the Firearms Excise Tax Improvement Act of 2010 (H.R. 5552), which was approved on tuesday.


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 alters what the NSSF called 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.


The Congressional Sportsman Foundation called the legislation a “major piece of pro-sportsmen legislation to help firearm and ammunition manufacturers to grow business and help strengthen wildlife conservation funding.”

 

“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.”

 

Currently, the NSSF says manufacturers pay this tax on a bi-weekly schedule, forcing many manufacturers to borrow money to ensure on-time payment.

HR 5552 revised an earlier bill (HR 510) to ensure that the legislation would not add to the budget deficit. The NSSF says 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, according to the NSSF.