More on the Excise Reform Bill
HR 6310 will allow the firearms and ammunition industry to pay the FAET on a quarterly basis, the same payment schedule as every other industry that supports conservation. Currently firearms and ammunition manufacturers must pay the FAET bi-weekly. This payment schedule forces many manufacturers to borrow money to ensure on-time payment, and industry members spend thousands of man-hours administering the necessary paperwork to successfully complete the bi-weekly payments — monies that are due long before manufacturers are paid by their customers. This legislation will not lower the amount of conservation dollars collected by the tax.
