WalletHub
Gun sales have been down since Donald Trump won the White House. And while that’s good news to some, it could be a bad sign for state economies relying heavily on the firearms industry. By one estimate, guns contributed more than $51 billion to the U.S. economy and generated over $6.5 billion in federal and state taxes in 2017.
But in recent days since the February 14, 2018 Parkland school shooting, some states have considered putting more restrictions on the gun industry. For example, Oregon closed a loophole that previously allowed convicted domestic abusers or stalkers to purchase firearms. The Florida Senate also voted to raise the minimum age to purchase any gun to 21.
Related: Remington, the oldest gun maker in the United States, files for bankruptcy protection
In light of the recent developments in the firearms industry and debates on how, if at all, it should be restricted following the Parkland school shooting, WalletHub compared the economic impact of guns on each of the 50 states to determine which among them leans most heavily on the gun business, both directly for jobs and political contributions and indirectly through ownership. Read on for our findings, methodology and expert commentary from a panel of researchers.
