The RIFLE Act would repeal the federal firearm transfer tax, which currently requires a $200 tax payment when certain regulated firearms are transferred between owners. The bill eliminates Section 5811 of the Internal Revenue Code, which imposes this tax on transfers of items regulated under the National Firearms Act, including automatic weapons, silencers, and short-barreled rifles. The changes would take effect immediately upon enactment for any transfers made after the bill becomes law. The legislation includes clarifying language to ensure that repealing the transfer tax does not give the Consumer Product Safety Commission authority over firearms. The bill was introduced in May 2024 with support from Republican senators and has been referred to the Senate Finance Committee.
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