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.
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.