This legislative proposal, known as the "Freedom from Taxes Act of 2026," seeks to significantly modify the tax structure associated with the National Firearms Act (NFA) by eliminating several key financial burdens. Its primary aim is to amend the Internal Revenue Code of 1986 to remove specific taxes on NFA-regulated items. Specifically, the bill eliminates the $200 transfer tax on NFA firearms and the $200 making tax for manufacturing such items. It also removes the annual special occupational tax imposed on NFA registrants and dealers. These changes are set to take effect on the first day of the first calendar quarter that begins after 90 days following the Act's enactment.