Jacobs joins legislation to protect gun owners who declare bankruptcy

Press Release, Congressman Chris Jacobs

WASHINGTON, DC – Congressman Chris Jacobs (NY-27) led 15 representatives in introducing the Protecting Gun Owners in Bankruptcy Act to ensure an individual’s right to self-defense is not stripped due to financial hardship.

“An American’s right to protect themselves and their family is not conditioned on their financial standing. People fall on hard times, but their fundamental rights afforded under the Second Amendment are ensured by our Constitution and must be protected,” Jacobs said. “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.”

The Protecting Gun Owners in Bankruptcy Act (H.R. 7493) 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 also specifies that such firearms are household goods that are not subject to liens in bankruptcy.

The legislation was originally cosponsored by Representatives Cawthorn (NC-11), Newhouse (WA-04), Weber (TX-14), Mooney (WV-02), Van Drew (NJ-02), Garbarino (NY-02), Stefanik (NY-21), Tenney (NY-22), Mullin (OK-02), Gosar (AZ-04), McKinley (WV-01), Budd (NC-13), Norman (SC-05), Feenstra (IA-04), and Herrell (NM-02).

“I am proud to sponsor legislation to ensure gunowners can always maintain their Constitutional right to bear arms. The government should not be allowed to take advantage of lawful gunowners who have declared bankruptcy,” Rep. Elise Stefanik (NY-21) said.