The House Republicans are standing up for gun owners stuck in times of financial distress.
The Protecting Gun Owners in Bankruptcy Act was formally introduced this week, with Rep. Chris Jacobs, R-N.Y. and Rep. Elise Stefanik, R-N.Y. taking the promotional lead on the proposal.
If passed by the House, Senate, and President Joe Biden, the H.R. 7493 legislation would "modify federal bankruptcy law to allow an individual debtor to exempt from their bankruptcy estate one or more firearms up to a total maximum value of $3,000."
The bill would also classify firearms as household goods, and thus, not be subject to liens or a claim against assets used as collateral to satisfy a debt, in bankruptcy.
In essence, this legislation would ensure that an individual's perpetual right to self-defense could never be stripped, due to financial hardship.
"An American's right to protect themselves and their family is not conditioned on their financial standing," Jacobs said. "People fall on hard times, but their fundamental rights afforded under the Second Amendment are ensured by our Constitution and must be protected.
"I am proud to lead this effort in the House to ensure any law-abiding American can continue to defend themselves despite financial hardship, and I will continue my work to protect and defend the Second Amendment."
Stefanik echoed her colleague's statement about the protection bill.
"I am proud to sponsor legislation to ensure gun owners can always maintain their Constitutional right to bear arms," she said in a statement. "The government should not be allowed to take advantage of lawful gun owners who have declared bankruptcy.
The other co-sponsors include: Reps. Jeff Van Drew, R-N.J.; Ted Budd, R-N.C.; Madison Cawthorn, R-N.C.; Paul Gosar, R-Ariz.; Randy Weber, R-Texas; Claudia Tenney, R-N.Y.; Dan Newhouse, R-Wash.; Ralph Norman, R-S.C.; Alex Mooney, R-W.Va.; Markwayne Mullin, R-Okla.; David McKinley, R-W.Va.; Yvette Herrell, R-N.M.; Andrew Gabarino, R-N.Y.; and Randy Feenstra, R-Iowa.
© 2023 Newsmax. All rights reserved.