NRA Declares Bankruptcy
Breaking News

NRA Declares Bankruptcy

Reading Time: 2 minutes

The once mighty gun lobby now bankrupt

The National Rifle Association of America (NRA) is the most power gun lobby group in America, has filed for bankruptcy in a New York courtroom early Friday morning. The Non for profit organization has been under tremendous scrutiny for miss management of founds and operating out of the scope of their charitable status.

The NRA claims to be in a cash positive environment, but according to the organizations 2019 tax filings, they appear to be operating at a $12 million dollar deficit. They further claim the filing for bankruptcy will help them restructure the organization as they plan to move its head quarters to Texas where the tax laws are more favorable to not for profit organizations.

“This strategic plan represents a pathway to opportunity, growth and progress. The NRA is pursuing reincorporating in a state that values the contributions of the NRA, celebrates our law-abiding members, and will join us as a partner in upholding constitutional freedom.” JSaid Wayne LaPierre, the NRA’s CEO and executive vice president

The organization has been one of the largest donors to political campaigns since 2000. And within that time frame, they have surpassed $139 million in political contributions with the bulk of it going to Republican candidates.

NRA Declares Bankruptcy

In America, the rate of firearm deaths per 100,000 people rose from 10.3 per 100,000 in 1999 to 12 per 100,000 in 2017, with 109 people dying per day, being 11.9 per 100,000 in 2018. In 2010, there were 19,392 firearm-related suicides, and 11,078 firearm-related homicides in the U.S. Wiki

Most Americans have called for reason firearms legislation, especially when you consider there are multiple mass shootings taking place each year, in which most happen on educational campuses. However, these calls have never been passed due the Senate being controlled by the Republican Party. With the Democrats now in control of all three levels of government, Americans can be optimistic, reasonable gun laws will be passed.

“The NRA, a get rich quick scheme for its executives that pushed positions wildly out of step with gun owners, is collapsing, just as Congress readies to vote on a comprehensive background checks proposal with 90% public support,” Said Chris Murphy, Connecticut Democratic Senator

As the NRA faces uncertainty of its future and that of the Republican Party, American for at least a brief moment in time, can take solace knowing one of the major financial engines that have been used to influence American gun legislations has ran out of Ammo.

More great reading