RIFLE Act

S 1224, the RIFLE Act, eliminates the federal tax on firearm transfers by repealing Section 5811 of the Internal Revenue Code. This directly affects firearm sellers and buyers, removing a tax they previously paid on transactions. The bill includes technical adjustments to other tax code sections to reflect the repeal and clarifies that firearms regulated under the National Firearms Act remain outside the jurisdiction of the Consumer Product Safety Commission. The changes take effect after the bill is enacted.