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Increased Firearm Taxes to Fund Violence Prevention and Research

This act increases taxes on firearm sales and parts, and adjusts firearm-related occupational and transfer taxes for inflation. The collected funds will establish a trust fund dedicated to financing gun violence prevention programs, research, hate crime data collection, and firearm forensics.
Key points
Increases the excise tax on firearm sales and parts by 0.5 percentage points.
Establishes the Gun Violence Prevention Trust Fund with dedicated accounts for violence prevention, gun violence research, hate crimes, and firearm forensics.
Funds will support community-based violence intervention, research by CDC and NIH on gun violence (including suicide prevention), hate crime initiatives, and ATF's National Firearms Examiner Academy.
Firearm occupational and transfer taxes will be adjusted annually for inflation starting in 2023.
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Additional Information
Print number: 117_HR_8957
Sponsor: Rep. Davis, Danny K. [D-IL-7]
Process start date: 2022-09-22