Biden Signs Increased Ammunition Tax Mandate & Ammo Shortage Coming!!!

Published on April 30, 2022
Duration: 7:49

This video discusses the recent signing of HR 7108 by the Biden administration, which imposes a 30% duty tax on ammunition originating from Russia and Belarus. This new tax, combined with existing federal excise taxes, is projected to significantly increase ammunition costs in the U.S., potentially doubling prices for certain types of ammunition. The speaker highlights that this action, along with previous sanctions, negatively impacts American consumers' Second Amendment rights.

Quick Summary

President Biden signed HR 7108, imposing a 30% duty tax on ammunition from Russia and Belarus. This new tax, combined with existing federal excise taxes, is projected to significantly increase ammunition costs in the U.S., potentially doubling prices for certain types of ammunition and impacting consumers' Second Amendment rights.

Chapters

  1. 00:00Introduction: New Ammunition Tax
  2. 00:11Call to Action & Sponsor
  3. 01:36Details of HR 7108
  4. 02:47Harmonized Tariff Schedule & Duty Rates
  5. 03:07Combined Tax Impact
  6. 03:31Previous Sanctions on Russian Ammunition
  7. 04:10Projected Price Increases
  8. 04:33Reasoning for Price Jumps
  9. 05:19Other Ammunition Price Increases
  10. 05:36Compounding Factors: Demand & Supply
  11. 05:58Impact on Consumers & Advice
  12. 06:26Critique of Administration's Actions
  13. 06:46Q&A and Channel Support
  14. 07:20Subscription Goal

Frequently Asked Questions

What is the new tax on imported ammunition?

President Biden signed HR 7108 into law, imposing a 30% additional duty tax on all ammunition and ammunition parts originating from Russia and Belarus. This is on top of existing federal excise taxes.

How will the new ammunition tax affect prices in the U.S.?

The 30% import duty, combined with existing taxes and industry markups, is expected to significantly increase ammunition costs. Some estimates suggest prices for Russian-origin ammunition could rise by at least 70%, potentially doubling costs for consumers.

What is HR 7108?

HR 7108, the Suspending Normal Trade Relations with Russia and Belarus Act, mandates that products from these countries are subject to specific duty rates. For ammunition, this means a new 30% import tax.

Are there other factors contributing to ammunition price increases?

Yes, besides the new import tax, global demand is high, and U.S. companies are supplying ammunition to Europe. These factors reduce domestic supply, further driving up prices for consumers.

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