This is only waiting for Obama’s signature. But, since it adds NOTHING to the deficit or debt and will help business, it wouldn’t be a surprise if he didn’t based on the past.
Here is a synopsis of the bill:
“This legislation corrects a longstanding inequity in the Internal Revenue Code by permitting firearm and ammunition manufacturers to pay the federal excise tax payment on a quarterly basis, just as other industries that support conservation through a federal excise tax do. Currently, firearms and ammunition manufacturers pay this tax on a bi-weekly schedule, forcing many manufacturers to borrow money to ensure on-time payment. Industry members spend thousands of staff-hours administering the necessary paperwork to successfully complete the bi-weekly tax payments — monies that are due to the federal government long before manufacturers are paid by their customers.”