President puts forth proposal for gun law reform
Firearm industry thrives in face of possible ban
President Obama on Wednesday formally proposed new gun-control policies and initiated 23 separate executive actions aimed at curbing gun violence. The Obama administration can implement about half of the proposals, but the rest will require congressional approval.
Obama called on Congress to swiftly pass legislation to ban assault weapons and high-capacity ammunition magazines for civilian use and to require universal background checks for all gun buyers.
Obama’s proposals include mental health and school safety measures, as well as a tough new crackdown on gun trafficking.
Obama issued the call for the assault ban as part of a broad response to the Newtown shooting.
“Congress should restore the ban on military-style assault weapons and a 10-round limit for magazines,” the president said. Obama was referring to a 10-year ban that expired in 2004, which limited the capacity of magazines and restricted military-style features on semiautomatic rifles. The president’s plan can be read in its entirety at http://www.whitehouse.gov/sites/default/files/docs/wh_now_is_the_time_fu....
Rep. Mark Takano (D-Riverside) threw his support behind the proposals presented by President Obama on addressing the level of gun violence in America.
“The tragedy of Sandy Hook Elementary that killed 20 children and six adults has fundamentally changed us and the American people demand action,” said Takano. “I was pleased to see the proposals put forward by the president this afternoon, as they show a strong commitment towards reducing gun violence, while still respecting personal liberties.
“By proposing universal background checks, the regulation of military style weapons, increasing funding for mental health services, local law enforcement and school resource officers, the president delivered a multifaceted approach that aims to uphold our fundamental obligation to protect our children. I look forward to the legislation being presented in Congress and hope for an honest debate about ways to curb gun violence. This time is different, and action must be taken swiftly,” said Takano.
But, the specter of a potential ban in the wake of mass shootings around the country has prompted gun enthusiasts to stock up on the weapons that may some day be denied to them.
Gun stocks rose Wednesday, even as President Obama called on Congress to pass the assault weapon ban.
The stock prices for Smith & Wesson Holding Co. and Sturm, Ruger & Co. rose about 4 percent. The stock for Sturm, Ruger has risen 13 percent in the month since the shooting at a Newtown, Conn., elementary school that left 20 children and six educators dead.
Retailers that specialize in guns have also done well. The stock price for Cabela’s surged 6 percent on Wednesday and has gained 20 percent over the last month. Dick’s Sporting Goods notched up slightly, and has gained 6 percent over the month.
“Consumers are flocking to stores to purchase certain types of firearms, including assault rifles, in fears of some type of ban going forward,” said Rommel Dionisio, gun industry analyst for Wedbush Securities. “It’s people rushing to buy them before they’re banned.”
Dick’s said last month that it has suspended sales of assault rifles.
Smith & Wesson and Sturm, Ruger manufacture a wide variety of firearms, including the semiautomatic rifles that are known as assault weapons or modern sporting rifles.
There are many other non-public companies that manufacture semiautomatic rifles, including Bushmaster Firearms International, which makes the rifle used at the Newtown shooting and also a recent shooting in Webster, N.Y., where a convict burned down houses and then ambushed and killed two volunteer firefighters.
Such a ban, if it passes, would also impact manufacturers of high-capacity magazines. They include the Beta Co., which makes 100-round drums, and SGM Tactical, which produces 30-round and 100-round magazines.
High-capacity magazines face a potential ban because they were used by Adam Lanza in the Newtown shooting and by James Holmes, suspect in a mass shooting last year at a movie theater in Aurora, Colo.
Even as Obama spoke, thousands of gun industry members packed into the SHOT Show—an annual trade show—in Las Vegas. The show is owned and sponsored by the National Shooting Sports Foundation, an organization based in Newtown, less than two miles from the site of the Sandy Hook school shooting.
Obama acknowledged that he faces serious opposition in trying to get an assault weapon bill passed by a Republican-controlled House.
CNN News Wire contributed to this article.
WASHINGTON, D.C. — The Senate’s top Democrat said Tuesday he will force a vote this week on whether to open debate on tougher gun laws, increasing pressure on legislators from both parties negotiating a possible compromise on a package that some Republicans have threatened to filibuster.
“Sales are through the roof,” said David Spillwell, an employee with The Gun Shop in Lancaster. “When Obama was re-elected on his anti-gun agenda, people seemed to go into a sort of panic. This happened when he was first elected—all the anti-gun talk—but it was nothing like it is now.
We can’t keep adequate supply, sales have been so good.”
What has the president wrought?
The President Barack Obama on Thursday held an event in the East Room where he stood with mothers who are urging Congress to take action on “common-sense” measures to protect children from gun violence. The president was joined by Vice President Joe Biden, law enforcement officials, victims of gun violence, and other stakeholders.
WASHINGTON, D.C.—Nothing, it seems, can bridge the bottomless political divide in Washington over taxes and spending.
Not an election last November that gave President Barack Obama a second term. Not polling that shows a strong majority of Americans want both sides to compromise in forging an agreement to reduce chronic federal deficits and debts.
The National Rifle Association will sponsor the NASCAR Sprint Cup event in Texas on April 13, Texas Motor Speedway President Eddie Gossage announced Monday.
The race will be called the NRA 500 and will be run during prime time.