Bill 119 hr 335, also known as the "Repeal of the National Firearms Act," aims to amend the Internal Revenue Code of 1986 by repealing the National Firearms Act. The National Firearms Act, originally passed in 1934, imposes taxes and regulations on the manufacture, sale, and transfer of certain firearms, including machine guns, short-barreled rifles, and silencers.
If passed, this bill would eliminate the requirements and restrictions imposed by the National Firearms Act, effectively deregulating these types of firearms. Proponents of the bill argue that the National Firearms Act infringes on the Second Amendment rights of law-abiding citizens and imposes unnecessary burdens on gun owners.
Opponents of the bill, however, express concerns about the potential implications of repealing the National Firearms Act, including the increased availability of dangerous firearms and the potential for an uptick in gun violence. They argue that the regulations imposed by the National Firearms Act are necessary for public safety and the prevention of gun-related crimes.
Overall, the passage of Bill 119 hr 335 would have significant implications for gun owners and the firearms industry. It is important for lawmakers to carefully consider the potential consequences of repealing the National Firearms Act before making a decision on this bill.