Bill > HR4283

This bill, the Gun Violence Prevention and Safe Communities Act of 2023, proposes to amend the Internal Revenue Code to increase certain taxes related to firearms. Specifically, the bill: 1. Increases the excise tax on the sale of firearms, including frames and receivers, by 0.5 percentage points. The additional tax revenue will be deposited into a new Gun Violence Prevention Trust Fund, which will be used to fund community-based violence intervention and prevention initiatives, gun violence research at the Centers for Disease Control and Prevention and National Institutes of Health, hate crimes data collection and prevention, and firearm forensics activities. 2. Adjusts the existing occupational and transfer taxes related to firearms for inflation, starting in 2023, to ensure these taxes maintain their real value over time. The overall goal of the bill is to use increased tax revenue from the gun industry to support various programs and initiatives aimed at reducing gun violence and promoting safer communities across the United States.

Budget and Finance, Business and Industry

https://www.congress.gov/bill/118th-congress/house-bill/4283/all-info