Congressman Dan Goldman Pushes to Ban ‘Buy Now, Pay Later’ Financing for Assault Weapons
Washington, DC – Congressman Dan Goldman (NY-10) joined Congressman John Larson (CT-01) to introduce the ‘Assault Weapon Financing Accountability Act,’ which would ban the use of Buy Now, Pay Later (BNPL) financing for the purchase of assault weapons and the ghost gun kits that are used to build them.
The Assault Weapon Financing Accountability Act would ban any importer, manufacturer, or retailer from selling a firearm under a Buy Now, Pay Later financing agreement, and make them subject to a $100,000 civil fine if they do so anyway. Likewise, the purchaser of a firearm bought using BNPL would be subject to the $100,000 civil fine as well.
“Layaway is meant for holiday gifts and major life purchases, not the firearms that are fueling the deadly gun violence epidemic in this country,” Congressman Dan Goldman said. “The immediate availability of assault weapons simply caters to bad actors and potentially dangerous individuals and exacerbates the public health crisis of gun violence. Basic common sense recognizes that these financing incentives only encourage irresponsible purchases and undermine responsible gun ownership. Let’s take an extra beat to protect our communities.”
Buy Now, Pay Later schemes have begun to target the firearms and ammunition industry, in some cases advertising the service as “Shoot Now, Pay Later.” Several mass shooters have used credit to finance their weapons, including the Orlando gunman that killed 49 people in 2016, as well as the Las Vegas shooter that murdered 60 people in 2017. Banning instant financing like BNPL options for assault weapons and the ghost gun kits used to build them will reduce the instant accessibility of these weapons and help prevent tragedies before they occur.
Congressman Dan Goldman is fighting to pass the commonsense gun safety legislation that is supported by a majority of Americans.
In February of last year, the Congressman cosponsored three pieces of legislation that would protect our communities from the scourge of gun violence. The ‘Assault Weapons Ban’ would prohibit the weapons used in eight of the 10 deadliest mass shootings in recent American history. The ‘Bipartisan Background Checks Act,’ supported by more than 90 percent of both Democrats and Republicans in America, would require that every sale of a firearm include a background check. ‘Ethan’s Law’ would require gun owners to safely and securely store their firearms and establish strong penalties for violations.
Earlier this month, Goldman also signed on to the ‘Stop Online Ammunition Sales Act,’ which would place safeguards and limitations on the sale of ammunition over the internet, the ‘Default Proceed Sale Transparency Act’ to address the 'Charleston Loophole,’ which allows some gun sales to be completed without a Federal Bureau of Investigation (FBI) background check, and the ‘Keep Americans Safe Act’ to ban the importation, sale, manufacture, transfer, or possession of high-capacity gun magazines.
Congressman Goldman is a Vice Chair of the House Gun Violence Prevention Task Force and is Chair of the Dads Caucus Gun Violence Prevention Working Group.