House Panel Moves CTA Relief
The House Financial Services Committee advanced legislation that repeals the Corporate Transparency Act’s reporting requirements for more than 30 million U.S. businesses and codifies a Treasury rule limiting the beneficial‑ownership database to foreign entities. The bill also mandates a purge of existing domestic ownership data, addressing privacy and data‑security concerns. Lawmakers present the change as relief for Main Street while preserving tools to target illicit foreign actors. The measure now moves to the House floor for a full vote.
Full Court Press on CTA
The Washington Post editorial argues the Corporate Transparency Act (CTA) is both costly and unconstitutional, urging repeal. Lawmakers are poised to mark up the Repealing Big Brother Overreach Act, which would purge the existing beneficial‑ownership database within 90 days and...