We have received text from H.R. 335: Repeal the NFA Act. This bill was received on 2025-01-13, and currently has 15 cosponsors.
Here is a short summary of the bill:
This bill, titled the "Repeal the NFA Act," proposes the repeal of Chapter 53 of the Internal Revenue Code of 1986, which is known as the National Firearms Act (NFA). The NFA was enacted in 1934 and regulates the taxation and ownership of certain types of firearms, particularly those considered to be more dangerous, such as machine guns, short-barreled shotguns, and silencers.
Key Aspects of the Bill
- Repeal of NFA Requirements: The bill would eliminate the existing requirements under the NFA, which includes the need for individuals to pay a tax and undergo extensive background checks to legally purchase and possess certain restricted firearms and accessories.
- Impact on Gun Ownership: If this bill passes, it would potentially allow for easier access to firearms that are currently regulated under the NFA, thereby affecting ownership and transfer processes for these items.
- Administrative Changes: The repeal would likely require changes in how the federal government regulates and tracks the sale and ownership of firearms that were previously covered under the NFA, as those frameworks would no longer be in place.
- State Regulations: States may have their own laws regarding firearms, and the impact of this bill could vary depending on state regulations. State laws could still impose their own restrictions regardless of the repeal of federal regulations.
Potential Effects
- Increased Firearm Sales: The elimination of the NFA may lead to an increase in the sale of firearms that were previously difficult to obtain because of the restrictions imposed by the act.
- Legal Clarity: The repeal could create clearer legal standards for firearm ownership for items that are currently heavily regulated.
- Change in Law Enforcement Practices: Law enforcement agencies may need to adjust their approaches to dealing with firearms that were previously regulated under the NFA.
Relevant Companies
- RGR : Sturm, Ruger & Co., Inc. could see changes in sales dynamics due to an increase in demand for firearms that were previously restricted, as the repeal may lead more consumers to purchase these products.
- SAFM : Smith & Wesson Brands, Inc. may experience a boost in sales of specific firearm categories following the repeal, as consumers who were previously deterred by regulations may now enter the market.
- BA : While Boeing Co. (BA) is primarily an aerospace company, it also manufactures firearms through subsidiaries. The repeal could influence overall market conditions for fire-related products.
This article is not financial advice. See Quiver Quantitative's disclaimers for more information.
