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Joint Economic Committee Democrats Chairman - Rep. Don Beyer (D-VA)

The Economic Toll of Gun Violence

The loss to the victims, families and communities affected by gun violence cannot be calculated, but the harms caused by gun violence cascade through the rest of our economy in real and measurable ways. The economic toll creates costs for families, communities and society overall.

  • Gun violence injuries cost victims and their families more than $1 billion each year in initial direct medical costs alone.
  • Exposure to gun violence negatively effects educational attainment, leading to worse lifetime outcomes for children.
  • Increased school security measures in response to gun violence cost more than $3 billion each year, straining school budgets.
  • Gun violence harms local economies by slowing business development and decreasing housing prices.

From health care to education and business formation to housing, the economic effects of gun violence are lasting and significant. Available research likely underestimates the economic toll of gun violence, leaving sections of costs undercounted or unaccounted for entirely. However, looking at the known costs gives insight into the wide scope of the economic impact of gun violence and huge losses it creates.  

Read the full report.