This legislation, titled the "Repealing Illegal Freedom and Liberty Excises Act" or the "RIFLE Act" , aims to eliminate the federal tax currently imposed on firearm transfers. Its primary action is the repeal of Section 5811 of the Internal Revenue Code of 1986, which mandates this specific tax. The bill includes several conforming amendments to other sections of the Internal Revenue Code, such as Sections 4182(a), 5846, 5852, 5853, and 5854, to align with the removal of the transfer tax. These changes will be effective for all firearm transfers made after the date of the Act's enactment. Additionally, the legislation clarifies that it does not place firearms regulated under the National Firearms Act under the jurisdiction of the United States Consumer Product Safety Commission.