California fails to pass tax hikes on handguns and ammunition

From WWW.FOXNEWS.COM

The California Assembly on Thursday failed to pass a bill that would have raised taxes on handguns and ammunition.

The bill by Assemblyman Marc Levine, a Democrat from San Rafael, would have imposed a 10% tax on the sales price of handguns and an 11% tax on the sales price of rifles, precursor parts and ammunition.

The tax would have applied to retailers, not consumers. But a legislative analysis of the bill said retailers could have passed that cost along to buyers. The Assembly Appropriations Committee estimated it would have generated $118 million per year, with the money going toward gun violence prevention programs and research.

A majority of the Assembly’s 80 members voted for the bill. But because the bill would create a new tax, it required a two-thirds vote. The bill fell five votes short of the 54 required for passage. Democrats control 59 votes. But several Democrats come from more moderate districts, making a tax increase on guns a tough vote for them.

Despite the bill’s failure on Thursday, Levine said he believes it’s possible to revive the legislation la… (Read more)