close
close

Apre-salomemanzo

Breaking: Beyond Headlines!

Colorado voters approve measure to levy excise tax on guns, ammunition
aecifo

Colorado voters approve measure to levy excise tax on guns, ammunition

Colorado voters approved a measure to impose a 6.5% excise tax on gun and ammunition sales this election cycle with a 54% yes vote.

This makes Colorado the second state in the country to approve such a measure after the one that came into effect in California in July.

The expected $39 million in revenue will go toward supporting crime victims and the state’s mental health services, and some of the money will go to schools.

RELATED STORY | Republican Rep. Lauren Boebert Wins Congressional Race in New Colorado District

“This industry brings in a lot of tax revenue and I think it’s going to cause some stores to close. I think it will affect sales,” said Wayne Price, owner of The Gun Room in Lakewood, Colorado.

Price estimates the new tax will add $6,000 to $7,000 to his expenses each month, which he says he will have to pass on to the consumer by raising prices since margins are already tight.

With some of its guns worth up to $10,000, the new tax could add as much as $650 to the purchase price.

“We’re taxing a constitutional right to fund this, which I think is going in the wrong direction,” Price said.

RELATED STORY | Colorado votes to enshrine abortion rights in state constitution

The money from Proposition KK is intended to offset losses after federal grants for these programs fell 45% this year, according to state data. The state of Colorado says this is due to a sharp decrease in the number of fines and penalties against federal offenders, since that money exclusively funds these grants through the Victims of Crime Act.

“If it hadn’t passed, there would be fear about how they would be funded because there’s no money in the state budget,” said Eileen McCarron, president of Colorado Cease Fire, the group behind the bill.

McCarron says the reason guns are subject to this tax is their prevalence in domestic violence cases. According to Search in each cityaccess to a gun makes it five times more likely that a woman will die at the hands of a domestic abuser.

McCarron says this was not a measure intended to restrict the possession or use of firearms. As many as six other states are working on similar legislation across the country.