S. 3512 — Medicare Investment and Gun Violence Prevention Act

This section reinstates a $200 tax on the transfer of each firearm subject to the National Firearms Act (NFA) (i.e., machine guns, short-barreled rifles and shotguns, suppressors, and destructive devices; previously eliminated by P.L. 119-21) and retains the $5 transfer tax on any other weapons (AOWs) under IRC §5845(e). It also reinstates a $200 tax on the making of each NFA firearm (previously eliminated by P.L. 119-21), strikes a conforming amendment to IRC §4182(a) (added by P.L. 119-21), with changes applying to calendar quarters beginning more than 90 days after enactment.

This section provides additional funding of $1.7 billion to the Federal Hospital Insurance Trust Fund—which finances Medicare Part A hospital insurance benefits—for FY2026, to remain available until expended.