Mr President, please sign this bill!

Firearms Industry Applauds Landslide Passage of Excise Tax Improvement Legislation in U.S. Senate

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.”

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