Assault Weapons and High-Capacity Magazine Excise Tax
This bill introduces a new, very high tax on the sale of certain types of semi-automatic weapons and high-capacity magazines. This means manufacturers, importers, and sellers will have to add an additional 1000% of the product's value to the price, significantly increasing the cost for buyers. The aim is to limit the availability of these items by drastically raising their price.
Key points
Imposition of an additional 1000% excise tax on the sale of semi-automatic assault weapons and magazines holding more than 10 rounds.
The tax applies to manufacturers, producers, and importers, leading to significantly higher prices for consumers.
Purchases by the United States government, state, or local governments are exempt from this additional tax.
Expired
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