NEW YORK, NY — Congresswoman Congresswoman Carolyn B. Maloney (NY-12) introduced two major pieces of legislation to combat gun violence amid a nationwide gun violence epidemic. Both pieces of legislation stemmed from her Committee on Oversight and Reform’s investigation into gun manufacturers.

The Firearm Industry Fairness Act would tax firearm manufacturers that produce semiautomatic weapons and high-capacity magazines at a rate of 20% on all revenue, not just the revenue from the sales of those specific products.

The bill would use the tax revenue derived from these manufacturers to fund Community Violence Intervention programs to reduce gun violence and help victims. Federal tax rates on firearms have not been updated in over 50 years, before assault weapons were available for civilian purchase. Currently, AR-15s are taxed at the same rate as an ordinary hunting rifle, even though they are far more dangerous and are the weapon of choice for mass shooters.

The Firearm Industry Crime and Trafficking Accountability Act ensures that firearm manufacturers are held accountable for the widespread criminal misuse of their products.

This bill would require that each firearm manufacturer create a monitoring system to track the crimes committed with guns it has sold. It would also mandate that a manufacturer stop distributing weapons to a dealer when the company has reason to believe that the guns sold by that dealer are being trafficked or being used for unlawful purposes. Lastly, the bill empowers the ATF to impose meaningful financial penalties on firearms manufacturers that continue to ignore gun crime and supply bad-actor dealers.

“Last year, firearms cut short the lives of over 48 thousand Americans. Gun violence is now the leading cause of death for children in our country. It’s clear that unless Congress acts, gun manufacturer CEOs will continue to put profits over people, which is why it is critical that we pass these two pieces of legislation. My message is clear, if you continue to sell dangerous weapons of war to civilians, your cost of doing business will go up. There is no reason that an assault weapon used in mass shootings should be taxed at the same rate as a family hunting rifle or a gun manufacturer should be allowed to ignore the crimes committed with their products. Gun manufacturers must bear the cost of gun violence in this country, and as Chair of the House Committee on Oversight and Reform, that is exactly what I am doing,” said Rep. Maloney.