Gun manufacturers have made more than $1 billion from selling AR-15-style guns over the past decade, and for two companies those revenues have tripled over the past three years, according to a House investigation.
Two of those companies tripled their revenue from the weapons over the past three years, the committee found. Daniel Defense, the company that made the gun used in Uvalde, raised its revenue from $40 million in 2019 to more than $120 million last year. The company sells weapons like the one used in that shooting on credit and advertises that financing can be approved “in seconds.”
Sturm, Ruger & Co.’s gross earnings, meanwhile, have gone from $39 million to over $103 million since 2019, and Smith and Wesson reported that its revenues from all long guns doubled from 2019 to 2021. Those increases are against a backdrop of a record-setting overall increase in gun sales that began around the start of the coronavirus pandemic.The hearing comes
to get legislation passed that would ban certain semi-automatic weapons. It’s the lawmakers’ most far-reaching response yet to this summer’s mass shootings.There have been 15 mass killings this year, according to the Associated Press/USA TODAY/Northeastern University Mass Killing Database. According to that research, those incidents have left 86 dead and 63 injured. Guns were used in all of them. Mass killings are defined as incidents where at least four people were killed.
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