Videos tagged with NFA Modernization Act

The NFA Modernization Act of 2021 (HR 2427) proposes significant increases to NFA tax stamp costs, aiming to raise revenue from firearm owners. Introduced by Jamie Raskin, the bill would raise the current $200 tax stamp to $300 immediately, with annual inflation-based increases thereafter. The legislation targets pistol braces, estimating potential government revenue of $8 billion. Funds are earmarked for ATF gun violence prevention initiatives and the Office of Justice Programs.