NEW HAVEN, Conn.--(BUSINESS WIRE)--Democratic gubernatorial candidate Guy Smith www.guysmith4ct.com announced today a national solution to halt the sale of semiautomatic assault rifles in the AR-15 style of weapon with a market-based strategy using Connecticut’s established national leadership in semiautomatic assault rifle bans. The Smith plan calls for Connecticut to formerly demand major credit card companies such as Visa, Discover, MasterCard, and American Express, and major banks that process credit card transactions, including JP Morgan Chase, Citibank, Wells Fargo, and Bank of America – to immediately stop all processing of financial transactions for semiautomatic assault rifles.
The Smith plan requires no legislative action, just the will of the CEO’s and Boards of these publicly traded companies to amend their terms of service. The sale of these weapons designed for the theater of war are not in line with the corporate social responsibility commitments and values these credit card companies, banks and financial institutions claim they stand for. The precedent exists for these institutions to prevent credit card transactions of specific products that are otherwise legal.
“Semiautomatic assault rifles like the AR-15 were never intended for civilian use and we see with painful consequences in our schools, at concerts and in our neighborhoods the true intent behind these weapons – mass human casualty,” said Guy Smith. “We are all proud of Connecticut’s national leadership position in passing sensible gun regulations in our state – but the truth is guns don’t obey state lines and our people will only be safe when we put into place a national solution on this issue.”
The Smith Plan proposes that the Constitutional officers of Connecticut and the leadership of the legislature lead in a collaborative movement with like-minded states to leverage their shared financial power to impact change. The proposal calls for shareholder activism to put pressure on credit card companies and major financial institutions to stop the sale of semiautomatic assault rifles by simply changing their terms of service. We have seen the power of shareholder activism and consumer pressure successfully drive change in South Africa and the eventual toppling of Apartheid.
“Despite valiant efforts by some federal legislators including our Congressional delegation led by Senator Chris Murphy and Senator Richard Blumenthal, whose work continues with all of our fervent support, the NRA’s choke-hold on too many of our federal legislators continues to defy the will of the people and the pleas of our children,” said Smith. “Working together with businesses, community leaders and student and youth activists, we can achieve the change that the overwhelming majority of our fellow Americans want on the issue of semiautomatic assault rifle bans. In a Smith administration this is how we will move Connecticut forward – with third-way solutions that rise above the divisiveness and paralysis of government to build a better Connecticut for us all.”
Smith will give testimony on this plan as an amendment proposed to the Connecticut House Bill No. 5540 and No. 5542 before the Judiciary Committee - bills banning “bump stocks’’, a device used to accelerate a gun’s shooting rate (used during the deadliest mass shooting in modern U.S. history in Las Vegas last October 1, 2017) and “ghost guns.’’ A ghost gun is an untraceable semiautomatic rifle sold over the Internet that has no serial number and exists beyond law enforcement’s knowledge and control.
Since the massacre at Sandy Hook Elementary School in Newtown six years ago, Connecticut has led the nation in reducing gun violence by enacting some of the strictest gun control laws, expanded assault rifle bans and stricter background checks. The Smith plan continues in the tradition of Connecticut’s national leadership position in advancing the issue of sensible gun regulation and reducing gun violence in our communities.
About Guy Smith:
Democrat Guy Smith, a resident of Greenwich, is running for Governor with a plan to BUILD – GROW – PROTECT Connecticut. The Smith plan will BUILD the infrastructure for Connecticut’s future - GROW our way to financial prosperity - and PROTECT our people from the unconscionable Trump-Republican agenda. Visit www.guysmith4CT.com to learn about Guy’s vision and plans to build a better Connecticut for us all and stay connected by following @guysmith4ct on Facebook, Twitter, and Instagram.
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