Weapons manufacturers have made more than $1 billion from selling assault weapons to civilians over the past decade, with some companies seeing their revenues triple as gun deaths skyrocketed, a House panel said Wednesday.
Daniel Defense, the company that made the rifle used by the shooter in Uvalde, Texas, had more than $120 million in sales of AR-15-style rifles in 2021, compared to $40 million in 2019 , according to the House Committee on Oversight and Reform.
Sturm, Ruger & Co. also saw gross revenue nearly triple from $39 million to more than $103 million during the same period, the panel said, citing internal financial data it obtained.
Smith & Wesson — which sold the high-powered guns used in the July 4 massacre in Highland Park, Illinois — more than doubled its revenue from all long guns from $108 million to $253 million during that period.
The House of Representatives began examining arms industry profits after the mass shootings in Buffalo, New York and Uvalde. It released its first findings on Wednesday, when the CEOs of Daniel Defense and Sturm, Ruger & Co. were scheduled to testify at a hearing on the firearms industry’s role in America’s gun violence epidemic.
“These companies sell weapons to civilians that are designed to kill many people as quickly as possible,” Rep. Carolyn Maloney, DN.Y., who chairs the committee, said in a memorandum.
“These guns are the weapon of choice for mass murderers who have terrorized and slaughtered young children at school, believers in churches and synagogues, and families celebrating the Fourth of July,” she added.
The committee said leading gun manufacturers had employed “disturbing sales tactics,” including targeting the guns at young men to prove their masculinity while failing to take basic steps to address the “violence and destruction their products have unleashed.” “ to monitor.
Later this week, the House of Representatives plans to vote on a ban on assault weapons for the first time since 1994, Maloney said.
According to the Centers for Disease Control and Prevention, more people died from gunshots in the United States in 2020, the most recent year for which complete data are available, than at any other time on record. There were more than 45,000 gun deaths that year.
From 2019 to 2020, U.S. firearm homicide rates rose nearly 35 percent, the highest in over 25 years, affecting all age groups and widening existing racial and ethnic disparities across the country, the CDC said.
In addition, active shooter incidents increased more than 50 percent in 2021 from 2020 and nearly 97 percent from 2017, the FBI said in May.
https://www.nbcnews.com/politics/politics-news/gun-manufacturers-made-1-billion-assault-style-weapon-sales-last-decad-rcna40216 Weapons manufacturers have sold more than $1 billion in assault weapons over the past decade, according to the House Panel