The National Rifle Association is filing for bankruptcy and moving to Texas as New York Attorney General Letitia James (D) pursues legal action against the organization.
“The NRA’s claimed financial status has finally met its moral status: bankrupt,” wrote James on Twitter. “While we review its bankruptcy filing, we will not allow @NRA to use this or any other tactic to evade accountability and my office’s oversight.”
James sued the gun rights group in August, accusing CEO Wayne LaPierre and other NRA executives of using more than $63 million of the organization’s reserves for personal use (including luxury vacations and private jets) and tax fraud.
The NRA has not admitted to the mismanagement of donor funds.
In a counter suit, the NRA argues that James’s suit is politically motivated and thus a violation of the organization’s First Amendment rights. The counter suit is backed by 16 Republican Attorneys General.
“This is a transformational moment in the history of the NRA,” says LaPierre. The NRA is “dumping New York…at a time when the NRA is in its strongest financial condition in years” despite having spent more than $100 million on legal battles. The move to Texas, dubbed “Project Freedom,” will “enable long-term, sustainable growth…in a state that values the contributions of the NRA, celebrates our law-abiding members, and will join us as a partner in upholding constitutional freedom.”
The NRA, founded in New York in 1871, has long been a crucial advocate for gun rights in the United States. The group currently has more than five million members. Unfortunately, with Democrats in control of Congress, we can expect the Biden Administration to go hog wild on gun control legislation – especially following the George Floyd protests and the attack on the US Capitol by Trump supporters.