Freedom from Taxes Act of 2026
- Bill Number
- H.R. 8921
- Origin Chamber
- House
- Congress
- 119th Congress, Session 2
- Policy Area
- Taxation
- Status
- Introduced
- Latest Action
- 2026-05-20: Referred to the House Committee on Ways and Means.
- Last Updated
- 2026-06-05T15:41:54Z
AI-Generated Summary
Purpose This legislation amends the Internal Revenue Code of 1986 to modify and eliminate certain taxes imposed under the National Firearms Act.
Key Provisions
- Sets the tax on transfers of items covered by the National Firearms Act to $0.
- Sets the tax on making such items to $0.
- Updates an existing exemption from excise tax to align with the new zero-rate transfer tax.
- Adds a cutoff so the special occupational tax no longer applies to years beginning after the effective date of the changes.
- Specifies that the amendments take effect on the first day of the first calendar quarter beginning more than 90 days after enactment.
Significant Changes to Existing Law The bill replaces the current $200 transfer tax and $200 making tax with a zero rate. It also imposes a time limit on the special tax that previously had no end date, effectively phasing it out for future years.
Potential Impacts
- Government agencies: Reduces tax collections by the Internal Revenue Service related to these items and may lower administrative processing of tax payments.
- Citizens: Removes the $200 tax cost for individuals and businesses transferring or making covered items.
- No provisions address international relations.
Main Stakeholders Affected
- Individuals and businesses that manufacture, transfer, or deal in items regulated under the National Firearms Act.
- The Internal Revenue Service, which administers the affected taxes.
Notable Legal, Constitutional, or Political Implications The changes directly alter tax obligations under existing federal firearms tax provisions without modifying the underlying regulatory framework of the National Firearms Act.
This summary was generated by AI and may contain inaccuracies. Refer to the official source document for the authoritative text.
Sponsor
Cosponsors (7)
Rep. Moore, Barry [R-AL-1], Rep. Burlison, Eric [R-MO-7], Rep. Massie, Thomas [R-KY-4], Rep. DesJarlais, Scott [R-TN-4], Rep. Davidson, Warren [R-OH-8], Rep. Biggs, Sheri [R-SC-3], Rep. Cloud, Michael [R-TX-27]
Recent Actions
- 2026-05-20: Referred to the House Committee on Ways and Means.
- 2026-05-20: Introduced in House
- 2026-05-20: Sponsor introductory remarks on measure. (CR H3664)
- 2026-05-20: Introduced in House
Bill Versions
- Freedom from Taxes Act of 2026 — issued 2026-05-20 — PDF (2 pages)