Welcome To The Patriot
The Patriot provides a 5-minute weekly digest of the firearm industry.
Brought to you by Trident 1, the best-in-class, all-in-one, cloud-based FFL-compliant POS software for the firearm/outdoor industry.
Spotlight
In a significant victory, a federal judge in the Southern District of California overturned the state’s “One-Gun-A-Month” law, which restricted the purchase of more than one handgun or semiautomatic, centerfire rifle within a 30-day period. The court ruled that the law lacked a “well-established and representative historical analogue,” deeming it unconstitutional under the Second Amendment.
Meanwhile, Texas Attorney General Ken Paxton has initiated lawsuits against several businesses for prohibiting off-duty certified peace officers from entering their premises while armed, citing violations of Texas law that ensures the safety and well-being of citizens by allowing peace officers to carry weapons.
Additionally, concerns have been raised about New Mexico’s “Red Flag” law, which critics argue poses a threat to Second Amendment freedoms by enabling the confiscation of firearms based on loosely defined criteria, potentially infringing on individuals’ rights without due process.
The Number:
110% Increase In Long Gun Sales at Smith & Wesson
Smith & Wesson Brands, Inc. saw a 110.5% increase in long gun sales in Q3 2023 as compared to the same period in 2022.
This surge was fueled by the introduction of new products, which made up 35.7% of long gun sales.
Overall, the company’s total revenue grew by 6.5% year-over-year to $137.5 million.
In-Depth
Illinois Faces $9 Million Annual Tax Revenue Loss from Gun Ban
Illinois’ ban on over 170 semi-automatic firearms could lead to a $5-9 million yearly tax revenue loss. Enacted in January 2023, this law is under federal court litigation. It also risks reducing U.S. Fish and Wildlife Service funds for wildlife restoration.
Delaware’s Firearm Laws Under Federal Appeals Court Review
A federal appeals court is reviewing Delaware’s semiautomatic firearms and magazine capacity laws, challenged for infringing on Second Amendment rights. Enacted in 2022, these laws limit magazine capacity to 17 rounds.
South Carolina’s Constitutional Carry Act Boosts Gun Ownership
South Carolina’s new Constitutional Carry Act, signed by Governor Henry McMaster, lowers the legal age for gun purchases to 18 and removes training requirements for open carry. Industry professionals expect continued interest in firearm training and a surge in gun sales among younger buyers.
NSSF Leads in Gun Lobbying, Surpassing NRA
The National Shooting Sports Foundation (NSSF) spent over $5.4 million on federal lobbying in 2023, outpacing the NRA. Focusing on Second Amendment advocacy and gun safety, the NSSF has grown dramatically since 1961, hosting events with Republican governors and promoting responsible gun ownership.
Highlights
- Rhode Island Gun-Range Bill: Rep. Brandon Potter introduced legislation to limit outdoor gun ranges near schools, exempting indoor ranges.
- New Jersey and Delaware Defend Assault Weapons Ban: New Jersey and Delaware are in federal court to maintain their bans on assault weapons and large-capacity magazines, citing public safety.
- South Carolina Nears Open Carry Approval: South Carolina is close to allowing open carry for legally eligible individuals, with expected approval from Governor Henry McMaster.
- Arizona GOP’s Anti-Discrimination Proposal: The proposed ballot measure would require banks working with the state to certify they don’t discriminate against the firearms industry.
- Louisiana Joins Constitutional Carry States: Louisiana, under Governor Jeff Landry, enacted constitutional carry, becoming the 28th state to do so.
- Glocks Dominate February Sales: Glock pistols led February 2024’s sales, with the G19 and G43 models topping the charts. SIG P365 and P320 also ranked high, showing a preference for polymer-frame pistols.
- Wyoming Advances Concealed Carry in Schools: Wyoming’s Legislature passed a bill allowing concealed firearms in schools and government meetings, with a 22-8 Senate vote.
- Delaware’s New Handgun Law: Delaware’s House passed a bill requiring fingerprinting, training, and a state permit for handgun purchases.
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