Gavin Newsom Signs California Law Doubling Taxes on Guns, Ammo: ‘A Small Price to Pay’
September 27th, 2023Via: Fox:
California Gov. Gavin Newsom signed a law Tuesday that will double the taxes on guns and ammunition, with the new revenue going to safety initiatives.
The federal government collects excise taxes on purchases of firearms and ammunition at either 10% or 11%. The new law adds another 11% excise tax, meaning that Golden State residents can indirectly pay as much as 22%.
Newsom said that he saw the tax increase as a “pretty modest investment” in gun violence prevention and believes it will help toward “reducing those costs ultimately.”
“The carnage, it’s too much. We can’t normalize it, we can’t accept it,” Newsom said. “This is a small price to pay.”
