RIFLE Act

This legislation, titled the Repealing Illegal Freedom and Liberty Excises Act (RIFLE Act), aims to eliminate the federal tax on firearm transfers. Its primary provision is the repeal of Section 5811 of the Internal Revenue Code of 1986 , which currently imposes this tax. The bill includes several conforming amendments to other sections of the Internal Revenue Code to ensure consistency following the repeal of the firearm transfer tax. These changes update references to the repealed section, clarifying that the tax would have applied before the Act's enactment. The repeal and amendments will apply to all firearm transfers occurring after the bill's enactment date. Furthermore, the Act explicitly states that it should not be interpreted as granting the United States Consumer Product Safety Commission jurisdiction over firearms regulated under Chapter 53 of the Internal Revenue Code, also known as the National Firearms Act.