The move was expected after President Donald Trump ordered the Justice Department to work toward a ban following the shooting deaths of 17 people at a Florida high school in February.
Bump stocks, which enable guns to fire like automatic weapons, were not used in that attack they were used in last year's Las Vegas massacre but have since become a focal point in the gun control debate.
A reversal of the department's earlier evaluation could be seen as an admission that it was legally flawed, which manufacturers could seize on in court.
Even as the Trump administration moves toward banning the devices, some ATF officials believe it lacks the authority to do so.
A bid to ban the accessory fizzled last year, even as lawmakers expressed openness to the idea after nearly 60 people were gunned down in Las Vegas.
Some states have sought their own restrictions in light of the inaction. A ban on bump stocks was part of a far-reaching school safety bill signed by Florida Gov. Rick Scott, a Republican, on Friday that was immediately met with a lawsuit by the National Rifle Association. The powerful group has said it supports ATF regulations on the accessory but opposes any legislation that would do that same. The NRA did not immediately return calls for comment Saturday.
The proposal still needs the approval of the Office of Management and Budget.
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