According to NBC News:

One measure, the Firearm Industry Fairness Act, would impose a 20% tax on the total revenue earned by manufacturers who produce assault weapons and high-capacity magazines. Maloney said that the funds from the tax would be used for gun violence prevention efforts and to support shooting victims.

The other bill, the Firearm Industry Crime and Trafficking Accountability Act, would require every company that manufactures guns to create a system that tracks crimes committed with firearms they’ve sold, using data collected by the Bureau of Alcohol, Tobacco, Firearms and Explosives.

The legislation would “mandate that those manufacturers cease distributing weapons to a retailer when they have reason to believe that the guns sold by that retailer are being trafficked or used for criminal purposes,” according to the committee.

After several mass shootings this year, including in Buffalo, New York; Uvalde, Texas; and Highland Park, Illinois, the committee launched an investigation into firearms manufacturers and sought information from the companies about their selling and marketing of AR-15-style semi-automatic rifles and similar firearms.

Last month, the panel held a hearing with executives from several gun manufacturers, including Sturm, Ruger & Co., Daniel Defense and Smith & Wesson Brands.

Maloney said in a letter to the executives that the information provided by gunmakers “has heightened the committee’s concern that your company is continuing to profit from the sale and marketing of weapons of war to civilians despite the harm these weapons cause.”

Read more at NBC News.

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