From InsiderNJ.com (10/23/23):
U.S. Senator Cory Booker (D-NJ) and Representative Madeleine Dean (PA-04), with original co-sponsors Representatives Mary Gay Scanlon (PA-05), Eleanor Holmes Norton (D-DC), Eric Swalwell (CA-14), and Steve Cohen (TN-09), reintroduced The Fire Sale Loophole Closing Act of 2023, which addresses dangerous gaps in our gun violence prevention laws.
Under current law, federally licensed firearms dealers whose license is revoked or denied renewal may transfer business inventory to their personal collections. They can then sell those firearms without conducting background checks normally required for licensed gun dealers. The Fire Sale Loophole Closing Act would end this dangerous practice.
“Gun violence devastates every one of our communities — it is now the number one cause of death for children and teens in the United States — and as lawmakers, we have an obligation to end the epidemic and save lives,” said Representative Dean.
