Rep. Stefanik backs new bill protecting gun rights in bankruptcy situations

Rep. Stefanik backs new bill protecting gun rights in bankruptcy situations

FILE – In this June 27, 2017, file photo, a semi-automatic rifle is displayed with a 25 shot magazine, left, and a 10 shot magazine, right, at a gun store… Read More WASHINGTON, D.C. (WWTI) — Local lawmakers are voicing their support in new legislation aiming to protect second amendment rights. On April 11, the Protecting Gun Owners in Bankruptcy Act of 2022 (H.R. 7493) was introduced to Congress by House Republications to amend Title 11 of the United States code pertaining to a federal bankruptcy law. According to lawmakers, if passed, this legislation would modify the federal bankruptcy law to allow an individual debtor to exempt one or more firearms from their bankruptcy estate. These firearms could have up to a total maximum value of $3,000. Congresswoman Elise Stefanik cosponsored this legislation and said it would “ensure an individual’s right to self-defense is not stripped due to financial hardships.” “I am proud to sponsor legislation to ensure gun owners can always maintain their Constitutional right to bear arms. The government should not be allowed to take advantage of lawful gun owners who have declared bankruptcy,” Stefanik said in a press release. Stefanik added that the bill also labels firearms as household goods that are not subject to liens. This would be a claim against assets used as a collateral to satisfy a debt in bankruptcy situations. Following its introduction to Congress on April 11, the Protecting Gun Owners in Bankruptcy Act of 2022 was referred to the House […]

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