Bill Overview
Title: Prevent Family Fire Act of 2022
Description: This bill allows a new business-related tax credit, through 2030, for 10% of the amount of the first retail sale of a safe firearm storage device. The amount upon which the credit is based may not exceed $400. A safe firearm storage device is a device that (1) is designed and marketed to deny unauthorized access to, or rendering inoperable, a firearm or ammunition; and (2) is secured by a combination lock, key lock, or lock based on biometric information.
Sponsors: Rep. Levin, Mike [D-CA-49]
Target Audience
Population: People who own or are around firearms
Estimated Size: 160000000
- The bill promotes the use of safe firearm storage devices, which are intended to prevent unauthorized access to firearms.
- Families with firearms and children are primary beneficiaries as the risk of accidental harm is reduced.
- Owners of firearms who purchase these safe storage devices benefit from a tax credit, encouraging more sales and usage.
- The bill might indirectly impact gun manufacturers and retailers through increased sales of storage devices.
- Public safety overall might be positively impacted as safer storage reduces accidents and unauthorized use.
Reasoning
- The policy impacts firearm owners, which is a significant portion of the US population, specifically about 32% directly owning guns and more indirectly in households with guns.
- The budget constraints indicate a limited number of people can initially benefit from the tax credit, fewer than the total population that might be inclined to buy the product.
- The impact of the policy is expected more in families with children or those highly concerned with safety, which aligns with the policy's purpose to prevent family fire.
- Given the nature of the benefit (tax credit), lower to middle-income households may find it more appealing, although the cost of the safe storage device could still be a barrier.
- In terms of wellbeing impact, we expect a small uplift for those utilizing the credit, mainly due to increased peace of mind from safer storage, but the direct financial savings are not substantial.
Simulated Interviews
School Teacher (Ohio)
Age: 45 | Gender: female
Wellbeing Before Policy: 6
Duration of Impact: 10.0 years
Commonness: 12/20
Statement of Opinion:
- I am always worried about the firearms at home, especially with teenagers around.
- Getting a safe storage that is affordable thanks to a tax credit is a weight off my shoulders.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 6 |
| Year 2 | 7 | 6 |
| Year 3 | 7 | 6 |
| Year 5 | 7 | 6 |
| Year 10 | 6 | 5 |
| Year 20 | 6 | 5 |
Police Officer (Texas)
Age: 32 | Gender: male
Wellbeing Before Policy: 8
Duration of Impact: 0.0 years
Commonness: 8/20
Statement of Opinion:
- I already have safe storage for my guns.
- The policy doesn't really affect me because I've already invested in safety measures.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 8 | 8 |
| Year 2 | 8 | 8 |
| Year 3 | 8 | 8 |
| Year 5 | 8 | 8 |
| Year 10 | 8 | 8 |
| Year 20 | 7 | 8 |
Software Engineer (California)
Age: 28 | Gender: female
Wellbeing Before Policy: 7
Duration of Impact: 5.0 years
Commonness: 15/20
Statement of Opinion:
- We are planning to buy a safe storage for the firearms.
- The tax credit is a good incentive, as it effectively reduces the cost for us.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 8 | 7 |
| Year 2 | 8 | 7 |
| Year 3 | 8 | 7 |
| Year 5 | 7 | 6 |
| Year 10 | 7 | 6 |
| Year 20 | 7 | 6 |
Retired (Florida)
Age: 60 | Gender: male
Wellbeing Before Policy: 7
Duration of Impact: 3.0 years
Commonness: 7/20
Statement of Opinion:
- I keep my collection securely stored.
- The policy seems good for families, but I personally don't see much benefit for myself.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 7 |
| Year 2 | 7 | 7 |
| Year 3 | 7 | 7 |
| Year 5 | 7 | 7 |
| Year 10 | 7 | 7 |
| Year 20 | 6 | 7 |
Nurse (Alabama)
Age: 39 | Gender: female
Wellbeing Before Policy: 5
Duration of Impact: 7.0 years
Commonness: 10/20
Statement of Opinion:
- Safety is a priority for me, but I didn't consider a safe until the credit made it more feasible.
- This makes owning a gun a lot less stressful.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 6 | 5 |
| Year 2 | 6 | 5 |
| Year 3 | 6 | 5 |
| Year 5 | 6 | 4 |
| Year 10 | 5 | 4 |
| Year 20 | 5 | 4 |
Business Executive (New York)
Age: 50 | Gender: male
Wellbeing Before Policy: 9
Duration of Impact: 0.0 years
Commonness: 5/20
Statement of Opinion:
- I don’t see how this policy impacts me because guns aren't a part of my life.
- It's a good initiative but doesn’t change my world.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 9 | 9 |
| Year 2 | 9 | 9 |
| Year 3 | 9 | 9 |
| Year 5 | 9 | 9 |
| Year 10 | 9 | 9 |
| Year 20 | 9 | 9 |
College Student (Illinois)
Age: 23 | Gender: other
Wellbeing Before Policy: 6
Duration of Impact: 5.0 years
Commonness: 14/20
Statement of Opinion:
- My parents are using the tax credit to buy us a safe.
- I feel like this is a helpful measure for families like mine to improve safety.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 6 |
| Year 2 | 7 | 6 |
| Year 3 | 6 | 5 |
| Year 5 | 6 | 5 |
| Year 10 | 6 | 5 |
| Year 20 | 6 | 5 |
Firearm Retailer (Nevada)
Age: 42 | Gender: female
Wellbeing Before Policy: 7
Duration of Impact: 3.0 years
Commonness: 9/20
Statement of Opinion:
- The policy is great for business as it encourages more safety-minded purchases.
- I can see customers appreciate the financial incentive.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 8 | 7 |
| Year 2 | 8 | 7 |
| Year 3 | 8 | 7 |
| Year 5 | 8 | 7 |
| Year 10 | 7 | 6 |
| Year 20 | 6 | 6 |
Hunting Guide (Colorado)
Age: 55 | Gender: male
Wellbeing Before Policy: 8
Duration of Impact: 2.0 years
Commonness: 11/20
Statement of Opinion:
- I already use safes for all my guns and gear.
- The new policy is nice, but I would've bought them anyway.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 8 | 8 |
| Year 2 | 8 | 8 |
| Year 3 | 8 | 8 |
| Year 5 | 8 | 8 |
| Year 10 | 8 | 8 |
| Year 20 | 7 | 7 |
Stay-at-home Parent (Michigan)
Age: 30 | Gender: female
Wellbeing Before Policy: 5
Duration of Impact: 10.0 years
Commonness: 13/20
Statement of Opinion:
- With kids around, we've been worried about firearm safety.
- This tax credit makes getting a high-quality safe more manageable to afford.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 6 | 5 |
| Year 2 | 6 | 5 |
| Year 3 | 6 | 5 |
| Year 5 | 6 | 5 |
| Year 10 | 6 | 5 |
| Year 20 | 6 | 4 |
Cost Estimates
Year 1: $25000000 (Low: $20000000, High: $30000000)
Year 2: $30000000 (Low: $24000000, High: $36000000)
Year 3: $35000000 (Low: $28000000, High: $42000000)
Year 5: $45000000 (Low: $36000000, High: $54000000)
Year 10: $55000000 (Low: $44000000, High: $66000000)
Year 100: $0 (Low: $0, High: $0)
Key Considerations
- This bill primarily operates through fiscal incentives, i.e., tax credits.
- The impact on overall gun safety may correlate with the uptake of safe storage devices.
- Revenue losses depend heavily on participation and the utilization rate of credits.
- There are indirect benefits in public safety and health cost reductions.