Congresswoman Claudia Tenney (NY-24) reintroduced legislation last month that would make firearms a protected asset when an individual files for bankruptcy.
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Well, not every firearm an individual owns would fall under that designation.
The bill, known as the “Protecting Gun Owners in Bankruptcy Act.” would only exempt $3,000 worth of guns from a creditor’s collection efforts. (So if you happen to be sitting on any lawfully acquired, pre-86 machine guns, those would probably have to be forfeited due to their estimated value).
Rep. Tenney argues that because current bankruptcy law grants a list of exceptions to ensure one can maintain a basic standard of living — including a home, a car, clothing, certain appliances, and even musical instruments — one’s means of exercising their 2A rights should be added to the list.
“No American should ever have to sacrifice their constitutional rights because of their financial situation,” said Congresswoman Tenney in a February press release.
“The Second Amendment is a constitutional right for all Americans, even those experiencing financial hardship,” she added. “I am honored to lead this important legislation that protects the rights of gun owners everywhere, no matter their financial situation.”
Co-sponsors for the Protecting Gun Owners in Bankruptcy Act include, Reps. Paul Gosar (AZ-9), Randy Weber (TX-14), and Doug Lamborn (CO-5).
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What are your thoughts about this bill? Should firearms be a protected asset during a bankruptcy filing?
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