NSBA and small business support congressional efforts to reform the Corporate Transparency Act (CTA).
On July 25, NSBA, along with a number of other small-business organizations forming the Main Street Employer’s coalition, sent a letter to Congress calling for delay of the Corporate Transparency Act (CTA).
Backed by more than 135 groups dedicated to defending small businesses, the letter specifically supports legislation from Sens. Tim Scott (R-S.C.) and James Lankford (R-Okla.), which would provide a one-year delay of the CTA and its new disclosure requirements for all small-business owners.
NSBA has been leading the charge against the CTA since its inception, and, in its most recent lawsuit against Treasury, won a judgement from the U.S. District Court of the Northern District of Alabama citing the CTA as unconstitutional. Additionally, the CTA represents massive data privacy concerns and will have a chilling effect on investment, mentorship and business growth.
While NSBA’s legal team pushes forward against the CTA, we will continue to seek every possible legislative pathway to delay and ultimately repeal the CTA to ensure this harmful bill does not harm small business.
Follow NSBA as we continue working to protect small business from harmful small-business policy, and read our full letter to Congress here.
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