2 Stocks to Watch If House Passes the Assault Weapons Prohibition Act: What is…

2 Stocks to Watch If House Passes the Assault Weapons Prohibition Act: What is…

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The U.S. House of Representatives late Friday passed legislation reinstating the “assault weapons ban,” nearly two decades after such a ban ended.

What is the invoice about: The bill, which passed the House of Representatives by a narrow majority of 217 to 213, aims to ban the “sale, manufacture, transfer or possession of assault semi-automatic weapons and high-capacity magazines.”

Votes were mostly split along party lines, with five Democrats voting against the bill while only two Republicans — Rep. Brian Fitzpatrick (R-Pa) and Rep. Chris Jacobs (R-NY) supported the measure.

“We believe every American deserves to live in a safe community where they and their families can thrive,” said Speaker Nancy Pelosi said on the floor before taking the bill to a vote.

Last month, the Bipartisan Safer Communities Act was enacted, imposing strict background checks on potential firearms buyers under the age of 21. The bipartisan compromise came after a The shooter used a semi-automatic rifle to kill 19 children and two teachers at an elementary school in Uvalde, Texas.

In a statement released by the White House on Friday, President said Joe Biden said: “Today the House Democrats acted united to pass a ban on assault weapons to keep weapons of war off our streets, save lives in this country and reduce crime in our communities.”

Related link: What does the new Senate contract mean for Tesla, Toyota and other automakers?

Senate clearance – A weak possibility: In a more evenly divided Senate, the proposed law has little chance of passing, the New York Times said. It would require at least 10 Republicans backing the measure for the bill to see the day of light.

Regardless of the end result, Democrats can tout their efforts to get the law passed before the midterm elections, the Times said.

Public companies to watch out for: Two public companies – Smith & Wesson Trademarks, Inc. SWBI and Storm, Ruger & Company,…



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