Colorado has passed a new gun tax to generate revenue for victim services. The tax is 6.5% on guns, ammunition, and gun parts, expected to generate $39 million yearly. The funds will support crime victim services, mental health for veterans and youth, and school security. The tax aims to address the rise in firearm deaths in the state, with a particular focus on domestic violence. Researchers are unsure if the tax will affect gun sales. The tax is similar to a Pigouvian tax, meant to compensate for the societal impact of the product. Some worry the tax may drive gun sales to neighboring states.
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New Colorado Gun Law Aims To Shore Up Victim Services
