President Signs Excise Bill into Law
10/06/2010 5:12 pm

MAJOR VICTORY FOR FIREARMS INDUSTRY AND CONSERVATION . . . The president last week signed into law the Firearms Excise Tax Improvement Act of 2010 (H.R. 5552). The bill passed the House of Representatives at the end of June by a vote of 412-6 and cleared the Senate by unanimous consent on Aug. 5. The legislation will allow firearm and ammunition manufacturers to pay the federal excise tax on a quarterly basis, just as other industries do. The firearms and ammunition excise tax is a major source of funding for wildlife conservation in America. The signing of HR 5552 into law is a victory for America's firearms industry, sportsmen and conservation advocates everywhere.