Sporting Goods Excise Tax Modernization Act

# Sporting Goods Excise Tax Modernization Act (HR 1494) **What the Bill Would Do** This bill would modernize the federal excise tax on sporting goods. Currently, the U.S. applies an 11% excise tax on equipment like firearms and ammunition, and smaller taxes on fishing equipment and bows. The bill aims to update these tax rates and rules, though the specific changes are not detailed in the available information. **Who It Affects** The bill would impact manufacturers and retailers of sporting equipment, as well as consumers who purchase these goods.

Depending on how tax rates change, it could affect prices for hunters, sportspeople, and gun owners. It may also influence government revenue collected from these industries. **Current Status** The bill was introduced by Representative Jimmy Panetta (D-CA) in the 119th Congress and is currently in committee, meaning it has not yet been debated or voted on by the full House of Representatives. Further action would require committee approval before it could advance. *Note: Full details of specific tax changes are not available in the summary provided, so the exact impact would depend on the bill's complete text.*.