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NSBA urges Congress to pass H.R. 736 to delay the Corporate Transparency Act (CTA). UPDATE, 10 FEB. 2025 - ONE YEAR DOWN, ONE CHAMBER TO GO | The House overwhelmingly passed legislation Monday that would extend the deadline for millions of small businesses to report their ownership information to Treasury under an anti-money laundering law, one of six bipartisan Financial Services bills that cleared the chamber. Stay tuned as we follow progress of passage of this important bill to delay the Corporate Transparence Act. CTA - not the way! ____ The House returns to Washington, D.C., today with a major vote on legislation to delay the Corporate Transparency Act (CTA)--one of six bills teed-up for consideration under suspension, meaning they can pass with only 2/3 of the Chamber present for voting. That bill, the Protect Small Business from Excessive Paperwork Act of 2025  (H.R. 736) was introduced by Rep. Zach Nunn (R-Iowa) and would delay reporting deadlines under the CTA through 2026. NSBA and its 65,000 small-business members strongly support H.R. 736 and awarded Rep. Nunn with the NSBA Small Business Star Award just this past week in honor of his commitment to strengthening American entrepreneurship through his efforts to delay the CTA. For years, NSBA has fought hard against the CTA, both before the bill was even passed and through a lawsuit against Treasury over the implementing regulations which is making its way through the federal court system.    The first ruling in NSBA’s case found the CTA to be unconstitutional and resulted in any NSBA member in good standing as of March 1, 2025, being exempted from having to file their Beneficial Ownership Information (BOI) reports. We anticipate a ruling from the Eleventh Cricut Court of Appeals any day. While NSBA supports efforts to stem money laundering, the CTA not only will NOT effectively address that issue, but it now adds a massive layer of complexity and data security issues that only small businesses now have to deal with. The bill was flawed from its inception—shifting the burden of monitoring business financing from banks onto America’s small businesses.   Through a ruling on a federal lawsuit out of Texas, currently, there is a nationwide injunction in place to block enforcement and beneficial ownership information (BOI) reporting requirements due under the CTA. The Department of Justice has filed for action from the court to cancel this injunction, arguing the law is constitutional, despite how the CTA would create a database of Small-Business owner information to be accessible by government officials without a warrant. However, in an appeal in a separate case by the DOJ related to the CTA, the government seems to be leaving the door open for consideration of changes to the CTA, citing how the Treasury Department is continuing to weigh effects of the law.   Over the past two months, small-business owners have been on a nonstop see-saw when it comes to whether or not they have to file. NSBA continues to urge Congress to pass a delay bill to give small business some level of predictability – particularly given the steep fines of up to $500 per day in fines and potential jail time. “NSBA has been leading the charge against the CTA for years, and I want to personally thank Rep. Nunn for introducing H.R. 736 which would delay by one year the burdensome CTA,” stated NSBA President and CEO Todd McCracken. “I applaud Rep. Nunn’s continued leadership on this issue and strongly urge all Members of Congress to give their small-business constituents some reprieve from this deeply troubling back-and-forth on the CTA.”   First votes are expected at 6:30 p.m. on Monday, Feb. 10. Follow NSBA as we continue urging Congress and Washington to address, reform, delay, and repeal the CTA.

NSBA members are doing big things at Small Business Congress 2025! Follow here for live updates from SBC25 as the Delegates nominate and ratify our Priority Issues for the 119th Congress. FEB. 08, 12:00 PM | Following adjournment of the 2025 SBC Delegates, Board Members made their way to the NSBA office , where progress on the strategic plan to expand NSBA's reach and engagement to drive change for the Small-Business community was addressed and evaluated. Key performance indicators have been exceeded across the board as NSBA continues to grow its membership and influence across Washington. Welcoming a new board class, NSBA is humbled by the privilege to activate SBC Delegates' voice and votes for Priority issues. ____ FEB. 08, 9:45 AM | The penultimate event before voting, NSBA Board Members and Committee Chairmen Virginia Zimmerman, Robert Lesko, Milan Gandi, and Alex Cates respectively led Presentations for the Economic Development, Environment & Regulatory Affairs, Health & Human Resources, and Taxation Committees, providing an overview of the Day One Education Discussions and recap of the contenders for ratification to Priority Issues. NSBA Board Member Alex Cates leads the Taxation Committee Priority Issues Presentation at SBC 2025. NSBA SBC 2025 Delegates neck and neck on Chiefs or Birds for the Super Bowl Feb. 9, 2025. Sharing results with SBC 2025 Delegates in real time, the following were the top 10 issues selected as Priority Issues for NSBA to pursue for change with Congress and the Trump Administration for the 119th Session: NSBA's Priority Issues through 2026, as chosen by the SBC 2025 Delegates. Chosen from more than 35 Issue Brief topics presented and discussed as part of the SBC 2025 program, America's Small-Business community has affirmed its top concern to be action on extending expiring tax provisions, with a tax-specific Priority of extending the 199A pass-through deduction coming in as the second highest concern facing Small-Business owners. From there, NSBA President and CEO Todd McCracken moved to close SBC 2025. To access the full set of Issue Briefs, including papers on the ratified Priority Issues for the 119th Congress, subscribe to NSBA's Regulatory Rundown or our Weekly Advocate . Read the Priority Issues for the 118th Congress here . ____ FEB. 08, 9:15 AM | Leading a Legislative and Regulatory Look Ahead for 2025, SBC Delegates heard from NSBA President and CEO Todd McCracken, NSBA's Senior Director of Government Affairs Reed Wescott, and NSBA's hired gun Prism Group partner extraordinaire Mervyn Jones on what's what in Washington. NSBA President and CEO Todd McCracken, NSBA's Senior Director of Government Affairs Reed Wescott, and NSBA's hired gun Prism Group partner extraordinaire Mervyn Jones lead a session on what's what in Washington. On the flurry of executive orders coming from the White House, Jones summed up the situation in one fell swoop: "You can expect a lot of lawsuits to reach the Supreme Court." Townhall overviews next, and voting after that - SBC Delegates will ratify NSBA's Priority Issues before close of business. Large ballroom, but a packed house, for Small Business at SBC 2025 with NSBA! ____ FEB. 08, 8:30 AM | Representative Roger Williams  is Chairman of one of the House’s most important committees, and he’s always saving a seat at the table for Small Business.  House Small Business Commitee Chairman Roger Williams (R-TX-25) talks turkey on Small Business with SBC 2025 Delegates. A real life Small-Business owner and Chairman of the  U.S. House Committee on Small Business , thank you for remembering America’s most important economic community, Congressman - your commitments to improving Small-Business policy are minimizing risk and maximizing reward of opportunities for NSBA members and citizens across the country.  Chairman Williams takes time to chat with NSBA SBC Delegates after his breakfast remarks. Members are headed into the Presidential Ballroom to begin the morning briefs before the voting begins! NSBA's Ohio Delegates come together to support SBC 2025. ____ FEB. 08, 8:00 AM | A good day starts with a healthy breakfast, and, just four weeks into the job, freshman Congresswoman Kristen McDonald Rivet (D-MI-08) -  Small Business Association of Michigan  Legislator of the Year - already knows:  “A healthy vibrant economy runs through our Small Businesses.”  Thank you for joining NSBA and the Small-Business community to kick off Day Two of SBC 2025 - we’re looking forward to working with you to craft pragmatic, common sense policy for Small Business in the 119th and beyond! Congresswoman Kristen McDonald Rivet (D-MI-08) was all smiles for Small Business at SBC 2025. ____ FEB. 07, 5:00 PM | Wrapping up Day One of SBC 2025 with breakout sessions on AI and Business Growth Through the Federal Marketplace with John Stanford of the Prism Group, members continued conversations over cocktails and confections at our networking reception. NSBA Board Member Sanjyot Dunung leads a panel on AI and Small Business with  Simon Morrison , of  Amazon , and  Michael Fleischman , of  DLA Piper , PLLC. John Stanford of the Prism Group addresses SBC 2025 Delegates in a breakout session on Business Growth Through the Federal Marketplace. During the reception, NSBA offered the Delegates complimentary headshots to elevate the calling cards and outward facing impacts of their Small Business. NSBA SBC 2025 Delegates were all smiles for headshots during the evening reception. NSBA President and CEO Todd McCracken and SBC 2025 Delegate Jose Flores (the other one). We're looking forward to another productive day tomorrow morning, then off to ratifying NSBA's Priority Issues through 2026! ____ FEB. 06, 4:45 PM - SBC 2025 YEARROUND | Up next at SBC, a panel on AI and Small Business with  Simon Morrison , of  Amazon , and  Michael Fleischman , of  DLA Piper , PLLC. In a rapidly changing world, comprehensive policy prioritizing Small Business in AI rules and regs of the day is nonnegotiable, and we're looking forward to continuing our work with Congress and the White House to maximize opportunities for America's most important economic community.  Couldn't join us for this year's Small Business Congress, check in next week for our webinar with  Jeeva.ai  on Filling the AI Gap for Small Business, featuring Jeeva Chairman  Gaurav Bhattacharya  and NSBA's very own Director of Research and Regulatory Affairs  Rachel Grey !  Space is limited: ____ FEB. 06, 3:20 PM | A tax talk that didn't put anyone to sleep, Alex Cates from NSBA's Board hosted an informative panel on the ways and means rules affecting the Small-Business community. "We can't boil the ocean," but panelists Alex Hendrie of the National Association of Wholesalers, and Bob Carroll of EY, provided deep insights on the tax questions of the day on the mind of Small-Business owners everywhere. Alex Hendrie of the National Association of Wholesalers, and Bob Carroll of EY, join NSBA Board Member Alex Cates in a tax talk and the ways and means Small Business can support themselves in the current regulatory environment. Thank you to all of our supporters and speakers making SBC 2025 so substantive. Perhaps a robot will write the next update, as we dive into all things AI. ____ FEB. 06, 2:30 PM | We've stopped being polite and started getting real on what to do about the current challenges and bloated regulatory environment weighing on the Small-Business community in our first panel of the afternoon. Hosted by NSBA Board Leader Tim Opsitnick, Kevin Kosar, of the American Enterprise Institute, Corey Cooke, of the Senate Small Business Committee, and Tom Sullivan, of U.S. Chamber of Commerce were candid on the situation of laws and uncertainty affecting the Small-Business community: "Small Business do not receive the respect they deserve." NSBA Board Leader Tim Opsitnick, Kevin Kosar, of the American Enterprise Institute, Corey Cooke, of the Senate Small Business Committee, and Tom Sullivan, of U.S. Chamber of Commerce at SBC 2025. Stopping short on performing a rendition of Aretha's classic hit, the message was clear, and the respect for NSBA's members' commitments to share their Small Business story and provide important context for driving change from Washington was evident. Thank you to Senator and Chairwoman of the Senate Small Business Committee Joni Ernst (R-Iowa), as well, for your continued support of common sense Small Business policies. Some have a way to go, but your priorities for Small Business are clear, and you've PROVE(d) It. Read more about the Senator's PROVE It Act and support from NSBA for this important legislation. Talk talk up next. ____ FEB. 06, 1:45 PM | Quick refresh before we begin our afternoon sessions at SBC 2025! NSBA SBC 2025 Delegates take a moment to meet with our sponsors and partners. SBC 2025 would not be possible and NSBA would not be as impactful as it is for Small Business without support from our partners and sponsors, like the American Arbitration Association! SBC 2025 Delegates meet with event sponsors, like AAA/ADR and Amazon! The AAA is dedicated to supporting opportunities and education on benefits of including arbitration clauses in Small-Business agreements, which can save America's most important economic community more of their hard-earned money. Savings of this type are critical and allow Small Business to invest in expansion, which positively impacts the entire country, rather than languishing in court caught up in a fight that could have been an email. Pumping the caffeine for our SBC Delegates, the coffee's refreshed for the afternoon - the Rad Coffee, that is! Thank you again to NSBA newcomer and Small-Business maverick Jade Valore for supply of the most important part of SBC! We can't wait to see where you'll go next, and we'd be privileged to be a part of your journey! Rad Coffee for NSBA's Delegates from its raddest member Jade Valore. On to the afternoon panels! ____ FEB. 06, 12:45 PM | TAX GIRL IS HERE. If you don't know Forbes' Kelly Phillips Erb, she is a lawyer - the good kind - and on the side of the good guy, evident through her comprehensive and fair coverage of all things tax, financial crime, and CTA. A resident of Philadelphia and Birds fan headed into this Super Bowl weekend, Erb has become a resource for NSBA in how poorly the Treasury and its FinCEN unit have communicated, rolled out, implemented, and flailed around with the Corporate Transparency Act (CTA). NSBA SBC Delegates Listening to Forbes' Kelly Phillips Erb over Lunch. In fact, she provided an exclusive update on the CTA at NSBA's SBC Luncheon before the agencies: While the CTA is currently under an injunction and filing requirements are voluntary at the time of this writing, for how the original FinCEN filing deadlines for beneficial ownership reports have passed, the question becomes what happens should the injunction fall. For how federal district judges are increasingly applying their rulings on a nationwide level, changing trends of rulings of such scope typically coming from higher appeals and circuit courts, it's clear the CTA is a game changer even beyond the Small-Business community. Deciding the discrepancies between the lower courts, the Supreme Court says it is not ready to answer what to do about changes in filing deadlines if the injunction is cancelled. The government is currently appealing the injunctions issued over their cases against CTA complaints, formally requesting the injunction(s) be stayed and filing requirements come back into place. Reportedly, if the CTA is reinstated, the government has requested 30 days extension for time for Small-Business owners to file and comply. A polite laughter from the SBC Delegates scoffed at this notion, with NSBA members heavily educated on the undue and unconstitutional effects of the CTA on the Small-Business community. Another question Erb said she gets often is why President Trump cannot act to overturn the CTA. Although the President cannot overturn a codified law, the administration can choose not to enforce its terms. Relatedly, we are hopeful the wave of amnesia sweeping Congress, afflicting Members who do not remember voting for the CTA, is resolved through a full repeal of this cumbersome law soon. While there is clearly some road ahead to the conclusion on the CTA saga, NSBA is thankful for leaders, like, Erb and their coverage on the CTA and all things business affecting our not-so-small community. Taxes, courts, and action on the CTA - SBC Delegates listen to Forbes' Kelly Phillips Erb over lunch. Full hearts, full stomachs - ready to take on the rest of the afternoon for Day One at SBC 2025! The FUN Table at NSBA's SBC 2025 Luncheon. Ready to take on the rest of the afternoon! ___ FEB. 06, 12:25 PM | LUNCHTIME to digest the great conversations from our morning panels, including: David Burton of the Heritage Foundation, on Capital Formation & Financial Regulation; Former Chief Counsel from the Office of Advocacy at the Small Business Administration (SBA) and NSBA's Small Business Technology Council Chairman Jere Glover on Innovation & Intellectual Property; and Steven Abbott, of Gusto, and Seth Waugh, of Dentons, on Health and Human Resources. Preparing the Delegates for Priority Issue selection, NSBA is privileged to learn and share perspectives with all of the speakers to better inform our efforts and impacts in crafting, changing, and ensuring common sense Small-Business policy. Steven Abbott, of Gusto, and Seth Waugh, of Dentons, on Health and Human Resources, on stage with NSBA Board Member Milan Gandhi at SBC 2025 Looking for the full lineup of the SBC Schedule? Off to lunch! ____ FEB. 06, 11:00 AM | LIVE ON LINKEDIN Join NSBA and the  Export-Import Bank of the United States  live at SBC2025 with Small-Business member  Chris Christenberry , of  Atlantic Health Solutions  and Rejuvaskin, in a conversation on the importance of confidence in exporting. In today's evolving world, NSBA Partner EXIM Bank provides insights and assurances where traditional financing and support fall short, increasing opportunity for Small Business to grow beyond borders.  Follow this event announcement, and hit the notification bell on the main NSBA page to join the livestream!  For those joining online via LinkedIn desktop or the LinkedIn mobile app, attendees will receive a dropdown alert and notification for the livestream.  If you aren’t online, but have push notifications enabled, you may receive a push notification. See you there! ____ FEB. 06, 9:00 AM | Starting the morning off strong with opening SBC sessions featuring Andrew Lawrence from Clement & Murphy, PLLC, and Rep. Zach Nunn (R-Iowa), including thoughtful insights on the status of the Corporate Transparency Act (CTA). Andrew Lawrence from Clement & Murphy, PLLC, addresses SBC Delegates in opening sessions. Congressman Nunn is a consummate leader on action over the CTA, introducing a number of legislative items to combat the ill-effects of the CTA. NSBA President & CEO Todd McCracken with Congressman Zach Nunn (R-Iowa) at SBC 2025 Read more about Rep. Nunn's work with NSBA and the Small-Business community, including efforts to repeal the CTA. If you haven't heard, NSBA is on a crusade to reform, rethink, and, ultimately, repeal the CTA for undue, unconstitutional burdens it extends exclusively over Small Business. Read more about NSBA's work over the CTA, including a member injunction secured by our victory in federal court at the beginning of 2024. ____ FEB. 06, 8:00 AM | REGISTRATION is open! We are pleased to welcome our Delegates for conversations with NSBA partners, and keeping us caffeinated this year, the coffee is hot and complimentary from our California member Jade Valore, owner of Rad Coffee! NSBA Board Leader Joanie Meyers and Member Diesha Cooper reflecting our bipartisan commitments. ____ JOIN NSBA FEB. 06 as we kick off our biennial Small Business Congress (SBC), including exclusive briefings from Members of Congress, leaders in Washington, and up-to-the minute announcements as Delegates learn about, nominate, and ratify Priority Issues for the 119th Congress. Attending SBC in Washington in person? Click here for access to the digital materials packet!

Stay two steps ahead with your small business. Subscribe to receive NSBA’s Real-Time Regulatory Updates. Register here! Regulatory Rundown: Jan. 20 - Feb. 03 UPDATE, Feb. 4 | President Trump has confirmed a delay of Canadian and Mexican tariffs for 30 days, with leaders of the countries agreeing to work together to achieve progress on problems at the borders, including the flow of fentanyl and migrants. Follow NSBA as we continue tracking development of tariffs and executive orders from Washington. ____ Executive Order Edition : The first two weeks of President Trump’s second term have seen a flurry of executive orders. Here’s what small businesses need to know: Funding Freeze. On Jan. 27, the Office of Management and Budget (OMB) issued a memo  imposing a federal funding freeze that was abruptly withdrawn  after backlash. The freeze now faces a legal challenge, with a federal judge ruling that states challenging the freeze are likely to succeed and determining that the impact of the freeze remains unsettled and requires judicial review. The initial OMB memo required federal agencies “to identify and review all federal financial assistance programs and supporting activities consistent with the President’s policy and requirements” and, by Feb. 10, to pause issuance of new awards, disbursement of federal funds under all open awards, and other relevant agency actions that may be implicated by Trump’s executive orders pending OMB review and guidance.  More information on the legal challenge to the funding freeze is available here . ____ Tariffs and Trade. On Feb. 1, the White House announced  a 25% additional tariff on imports from Canada and Mexico and a 10% additional tariff on imports from China. Following the White House announcement, on Feb. 3, President Trump announced he would delay for a month tariffs on Mexican goods. Additionally, on Jan. 20, President Trump signed  an executive order requiring a variety of reports and recommendations to be delivered to him by April 1 on issues including the establishment of an External Revenue Service, the de minimis exemption, the impact of trade agreements on federal procurement, China’s treatment of intellectual property rights, among other things. ____ Deregulation. On Jan. 31, President Trump signed  an executive order requiring that whenever an agency promulgates a new rule, regulation, or guidance, it must identify at least 10 existing rules, regulations, or guidance documents to be repealed. The first Trump administration achieved the goal of eliminating two regulations for each one new regulation issued. According to the White House, not only was the 2-for-1 goal achieved, but in the first administration, five and a half regulations were eliminated for every one new regulation issued. ____ DEI. On Jan. 21, President Trump signed  an executive order eliminating most affirmative action programs for government contractors and requiring contractors to certify that they are not operating any DEI program that violates federal anti-discrimination laws. The order does not clarify what DEI programs violate such anti-discrimination laws.

Small businesses deserve clarity and certainty when it comes to spending and federal funding. FOR IMMEDIATE RELEASE Tuesday, Jan. 28, 2025 Contact: Molly Day 202-552-2904 , mday@NSBAadvocate.org Funding Freeze Provides Little Details or Security for Small Business   UPDATE, JAN 29, 1:12 PM | President Donald Trump has reportedly rescinded an order freezing an array of federal grants, loans and financial assistance, a dramatic reversal after days of uncertainty and anxiety rocked governments and nonprofit organizations. The reversal, issued by the White House budget office, stated that the original memo was “rescinded” and directed questions about implementation to agency and department lawyers, according to people familiar with the matter. The change comes after a federal judge temporarily blocked the directive, and came after the push drew bipartisan criticism from lawmakers who worried it could imperil anti-poverty initiatives, medical research and other critical services. Agencies with questions are directed to contact OMB, but no other details have been provided. Follow NSBA as we continue tracking progress of these announcements. ____ UPDATE, JAN. 28 PM | Late Tuesday, a federal judge temporarily blocked the administration’s planned funding freeze. The administrative stay was issued in a lawsuit brought yesterday by a handful of nonprofit groups impacted by a potential freeze. Stay tuned. ____ UPDATE, JAN. 28 | Earlier today, OMB released a FAQ on the funding freeze that stated, “Funds for small businesses, farmers, Pell grants, Head Start, rental assistance, and other similar programs will not be paused. If agencies are concerned that these programs may implicate the President’s Executive Orders, they should consult OMB to begin to unwind these objectionable policies without a pause in the payments.”   With this announcement, it appears most small-business lending program funds will not be immediately paused, and SBA and any other agencies providing financial disbursements—such as 7(a) loans, SBIR awards, disaster loans—will be required to submit financial and oversight information by Feb. 7. Follow NSBA as we continue tracking progress of these announcements. ____ Washington, D.C.  – Yesterday, President Trump’s Office of Management and Budget (OMB) issued a statement directing federal agencies to temporarily pause all agency grant, loan and other financial assistance programs. Where small business stands and how various small-business programs will be impacted remains to be seen. During the freeze, agencies are directed to review programs and determine the best uses for these programs.   Many of the most highly-utilized programs that provide funding for small business reside under the U.S. Small Business Administration (SBA); namely the 7(a) lending—and other smaller lending programs—as well as disaster funding. It is unclear how SBA plans to implement this freeze, and how such a freeze would impact a program that leverages private-sector lending to serve as “lender of last resort” for many small firms.   “While the impact on SBA and its critical small-business loan portfolio is still unclear, I can tell you that we’re hearing from members who are concerned, and unsure how this could impact existing loans or loans already in the pipeline,” stated NSBA President Todd McCracken. “My hope is that SBA embraces pragmatism and provides clarity soon on how this freeze is likely to impact the many programs they run that provide lifeblood financing during all stages of business growth and when they most need it—during a disaster.”   NSBA has been an outspoken supporter of SBA lending programs which leverage private funds to great success and at a relatively low cost to taxpayers—leading to innovation and job creation.   Celebrating more than 85 years in operation, NSBA is a staunchly nonpartisan organization advocating on behalf of America’s entrepreneurs. NSBA's 65,000 members represent every state and every industry in the U.S. Please visit www.nsba.biz  or follow us at @NSBAAdvocate. ###

The Trump Administration is in a unique position of historic opportunity to provide much-needed relief to millions of American Small Businesses from the burdensome, complex, and unconstitutional Corporate Transparency Act (CTA). Welcoming a newly re-inaugurated President Trump back to the White House, NSBA joined a number of other advocacy organizations representing more than 70 million Small-Business owners in urging action from the Administration to address confusion and uncertainty surrounding the Corporate Transparency Act (CTA). RELATED | NSBA Members Remain Exempt from CTA, BOI Filings Since March 2024 Challenging the unconstitutionality of the law, NSBA, alongside a number of other groups and plaintiffs in various federal court districts and appellate circuit courts, were victorious in securing rulings against the CTA. Two federal cases in Texas resulted in nationwide injunctions over filing requirements due under the law; one injunction issued in Texas Top Cop Shop v. Garland was cancelled by the Supreme Court on January 23, 2025, pending the results of the government’s appeal. Another injunction from a separate federal case against the CTA remains in place nationwide, however, without swift action to indefinitely delay implementation of the CTA, millions of American entrepreneurs may soon find themselves noncompliant and subject to hefty penalties, even as several lawsuits remain pending. This adds to the mountain of confusion covered entities already face, as various deadlines and filings obligations have shifted in just the past few weeks. RELATED | The CTA Violates Your Fourth Amendment Rights The Trump Administration is in a unique position of historic opportunity to provide much-needed relief to millions of American Small Businesses from the burdensome, complex, and unconstitutional CTA. NSBA and the Small-Business community urge the new Administration to take swift action to delay the implementation and enforcement of the CTA indefinitely, or at least until the legal cases challenging its validity have been fully resolved.

NSBA applauds Congress for prioritizing Small Business with their commodities legislation. Friday, Jan. 24, 2025   Contact: Molly Day 202-552-2904 mday@NSBAadvocate.org     Washington, D.C.  – Earlier this week, Sens. Jeanne Shaheen (D-N.H.) and Bill Cassidy (R-La.) introduced bipartisan legislation calling on the U.S. Small Business Administration (SBA) to create a new program to help small-business owners lock-in the cost of commodities like gasoline or lumber. The bill, Helping Small Businesses to Hedge Risk and Insure against Volatile Expenses (Helping Small Businesses THRIVE) Act will help small businesses protect against potential cost increases for key expenses.   NSBA worked with the Senators’ offices to provide first-hand data from our members and was instrumental throughout the process of drafting the legislation.   “I applaud Senators Shaheen and Cassidy for their leadership on this issue,” stated NSBA President and CEO Todd McCracken. “Not only will the Helping Small Businesses THRIVE Act  give small businesses greater certainty when it comes to costs, it puts them on a level playing field with large corporations when it comes to commodity cost hedging.”   This new SBA program will offer small businesses options for how to lock in their prices going forward – with a focus on inputs that already have liquid markets, and it offers small-business owners the kind of technical assistance they’ll need to take full advantage of the program.   Small businesses are the first—and hardest—hit by volatile cost increases, and the Helping Small Businesses THRIVE Act will help them first lock in costs for gasoline, diesel and up to three additional commodities, with special attention given to standard utilities like natural gas or electricity. The legislation makes way for additional commodities and utilities to be added to the program, and the bill also makes very clear this program is to focus specifically on small businesses only.   “This kind of bipartisan lawmaking to find solutions for America’s small businesses should be a thumbprint for lawmakers as we move forward in the 119th Session, and I’m pleased that NSBA was able to engage our membership and provide assistance in crafting this bill,” stated McCracken.   Celebrating more than 85 years in operation, NSBA is a staunchly nonpartisan organization advocating on behalf of America’s entrepreneurs. NSBA's 65,000 members represent every state and every industry in the U.S. Please visit www.nsba.biz  or follow us at @NSBAAdvocate.   ###

Confusion and chaos on the status of the Corporate Transparency Act continues to unduly affect Small Business. Join NSBA in our efforts to repeal the CTA once and for all.   CTA: Don’t File BOI Reports Just Yet UPDATE Jan. 24 11:55 a.m. ET:   FinCEN has posted an alert  on their website confirming they will adhere to the Smith v. U.S.  ruling and temporary injunction against filing BOI Reports, stating: “… reporting companies are not currently required to file beneficial ownership information with FinCEN despite the Supreme Court’s action.”   Read full details below. ####   Despite yesterday’s (Jan. 23, 2025) announcemen t from the U.S. Supreme Court which issued a stay of the initial Texas case’s injunction that had prevented enforcement of Beneficial Ownership Information (BOI) reporting under the Corporate Transparency Act (CTA), ANOTHER Texas court has ruled and filed ANOTHER injunction.   What this means? Small businesses are once again—at least for today—off the hook when it comes to filing their BOI reports.   As has become the norm with the CTA—and a glaring red flag for Congress to intervene—the various cases that have followed NSBA’s lawsuit against Treasury continue creating confusion for small businesses.   A far-less known case, Smith v. U.S. ,  was granted a preliminary injunction on Jan. 7, 2025 by a different U.S. District Judge in Texas. According to that judge, the plaintiffs clearly established that the CTA is unconstitutional and that it represents a “substantial risk of irreparable harm” without an injunction pausing the rule. That injunction—unlike NSBA’s which was ONLY for NSBA members as of March 1, 2024—was applied by the judge nationally , meaning all small businesses have a temporary reprieve.   FinCEN has yet to weigh in on either the SCOTUS decision or the Smith v. U.S.  case, but NSBA is strongly urging them to apply common sense and offer small businesses a modicum of certainty given the myriad lawsuits making their way through the courts following NSBA’s suit.   While any delay or injunction against the BOI filings is a positive thing, this latest Texas decision coupled with the SCOTUS announcement creates even more uncertainty for small business.   The CTA is merely a shifting of reporting duties from banks—who, up to this point have held the burden of such reporting—onto small businesses. The very small businesses we charge with creating jobs and keeping our communities thriving could face fines of up to $591 per DAY and serving up to two years of jail time.   NSBA President and CEO Todd McCracken had this to say:   “Even though NSBA members as of March 1, 2024 are protected against the BOI reporting, we firmly stand behind our lawsuit and eagerly await a decision in the latest appeal filed in that case by the Department of Justice. That aside, NSBA represents every small-business owner in the country, and we will continue to pursue every legal avenue to overturn this unconstitutional rule. We will push for Congress to do the right thing and see the CTA for what it truly is: a burden of uncertainty and confusion that will do very little to actually stop money laundering.”   Click here for NSBA’s CTA Resource  page.

Despite potential reinstatement of reporting requirements, NSBA continues to urge Congress and lawmaker to act to repeal the Corporate Transparency Act (CTA). FOR IMMEDIATE RELEASE Thursday, Jan. 23, 2025   Contact Molly Day 202-552-2904 | mday@NSBAadvocate.org CTA Reporting is Back on for Small Businesses   Washington, D.C.  – Earlier today, Thursday, Jan. 23, 2025, the U.S. Supreme Court issued a stay against the Fifth Circuit Court of Appeals latest ruling that temporarily barred the Financial Crimes and Enforcement Network (FinCEN) from enforcing Beneficial Ownership Information (BOI) reporting. Long story short: small businesses who are required to submit their BOI reports are now, once again, required to submit those reports.   FinCEN has yet to weigh in on what kind of timeframe they will adopt, but NSBA is strongly urging flexibility and ample be time provided to small businesses given the constant back-and-forth they have been dealing with regarding the Corporate Transparency Act (CTA).   Below is a statement from NSBA President and CEO Todd McCracken.   “While we appreciate the Supreme Court intervening on this issue—something we have been seeking in our own lawsuit—this creates even more uncertainty for our members and the millions of small businesses we represent. This burdensome rule could result in well-intending, but justifiably confused, small businesses to pay fines up to $591 per DAY and up to two years of jail time.   “And while any member of NSBA as of March 1, 2024 is exempt from this rule, NSBA cannot stand by and let this unfair burden ensnare countless other small businesses.   “I cannot stress enough what a major problem this back-and-forth and the massive uncertainty it creates is for the millions of small businesses across this country. I cannot stress enough how important it is that Congress move forward on efforts to delay and repeal the CTA.   “NSBA filed the first lawsuit in the nation against the CTA, and we will continue to pursue every legal avenue to overturn this unconstitutional rule. We will push for Congress to do the right thing and see the CTA for what it truly is: a burden of uncertainty and confusion that will do very little to actually stop money laundering.   “On behalf of the millions of small-business owners who will now be subject to the BOI regime, I implore FinCEN to proceed with prudence and patience in setting any new deadline.”   Click here for NSBA’s CTA Resource  page.   Celebrating more than 85 years in operation, NSBA is a staunchly nonpartisan organization advocating on behalf of America’s entrepreneurs. NSBA's 65,000 members represent every state and every industry in the U.S. Please visit www.nsba.biz  or follow us at @NSBAAdvocate.   ###

NSBA stands firmly for Small Business against the Corporate Transparency Act (CTA). JAN. 23 | It appears the Supreme Court of the United States has granted a stay of the nationwide injunction that was in effect over the Corporate Transparency Act (CTA). This reversal of the reversal of the nationwide injunction could permit Treasury and FinCEN to enforce Beneficial Ownership Information filings due under the CTA. A filing exemption for NSBA members in good standing on or before March 1, 2024, secured in another federal court case, remains in effect. RELATED | NSBA Urges Congress to Act to Repeal CTA We are closely monitoring announcements from FinCEN related to potential reinstatement of BOI reporting requirements due under the CTA with this SCOTUS ruling. This is a developing matter. Follow NSBA for the latest from the Court and Congress on the CTA. ____

The Section 199A deduction is scheduled to sunset at the end of 2025, posing countless risks and opaque threats to Small Business. JAN. 22 | This week, NSBA joined a number of Small-Business groups in a letter to Congress strongly supporting the Main Street Tax Certainty Act of 2025, legislation to make permanent the 20-percent deduction for small- and family-owned businesses (Section 199A). This legislation would provide certainty to the millions of S corporations, partnerships and sole proprietorships that rely on the Section 199A deduction to remain competitive. Pass-through businesses are the backbone of the American economy. They account for 95 percent of all businesses and employ 63 percent of all private sector workers. RELATED | 199A Deductions: An NSBA Priority Issue They also form the economic and social foundation for thousands of communities nationwide. Absent their efforts, those communities would face a future of lower growth, fewer jobs, and more boarded up buildings. Despite its importance, the Section 199A deduction is scheduled to sunset at the end of 2025, even as the businesses it supports continue to struggle with rising prices, labor shortages, and supply chain disruptions. A recent EY study found the loss of Section 199A would put 2.6 million jobs at risk. Read the full letter here , join us in our efforts to urge Congress to act on this important tax matter, and follow NSBA as we continue tracking progress of this bill.

The Corporate Transparency Act (CTA) must be delayed, dismantled, and repealed in the courts, by executive action, or on Capitol Hill. UPDATE, JAN. 22, 2025 | S. 100, a bill to repeal the Corporate Transparency Act, is now formally introduced with 20 co-sponsors. Follow NSBA as we continue urging Congress to act to repeal the CTA. Leading the fight since 2022, NSBA and the Small-Business community are continuing efforts against the unconstitutional Corporate Transparency Act (CTA) in the new year. After a number of federal courts issued rulings in late 2024 that were complimentary to NSBA’s victory over the CTA in a separate case, the law is currently under a nationwide injunction; however, the halt is temporary.  RELATED | The CTA violates your Fourth Amendment Rights.  Tell Congress to Cancel the CTA today. Should this block over the U.S. Department of the Treasury and its Financial Crimes Enforcement Network (FinCEN), preventing further enactment and enforcement of beneficial ownership information (BOI) reporting requirements due under the CTA be lifted once again, Small-Business owners will be plunged into compliance chaos for the confusion related to these court rulings and the overall lack of clarity for the law’s requirements from its governing agencies. To address this chaos and lack of clarity, as well as the CTA’s inherent undue bureaucratic burden imparted exclusively over the Small-Business community for its exclusion of banks and larger entities - not to mention its manipulated purpose of passage centered around unfounded claims that Small-Business owners are a significant problem for facilitating foreign money laundering - last Congress, Rep. Warren Davidson (R-Ohio) and Sen. Tommy Tuberville (R-Ala.) introduced the Repealing Big Brother Overreach Act (H.R. 8147, S. 4297) to repeal the CTA. With the 119th Congress underway, this week, NSBA and the Small-Business community urged these Members to reintroduce this important legislation, which 100 Members in the House and 18 Senators supported last Session. Sen. Tuberville announced reintroduction of a Senate bill this week, but a bill number has yet to be assigned. RELATED | NSBA’s Members Remain Exempt from CTA, BOI Filing Requirements by Victory in Federal Court Case Small Businesses are not criminals and do not wish to be treated as such by the federal government. NSBA and the Small-Business community are not opposed to efforts to fight criminal activity, including policy to combat foreign money laundering, but these efforts must be targeted, tailored, and not unfairly exaggerated to affect the drivers of our country’s economy. The CTA is not it. Rather, it is a sledgehammer imposing exorbitant fines that could close down millions of small businesses forever and penalties that may criminalize tens of millions of law-abiding small business owners. Read our full letter to Congress here , and join our fight over the CTA, including continued efforts against this cumbersome law in the courts, across Capitol Hill, and through leadership in Washington.

Stay two steps ahead with your small business. Subscribe to receive NSBA’s Real-Time Regulatory Updates. Register here! Regulatory Rundown: Jan. 06-20 NOTE: This issue of the Regulatory Rundown covers the final actions under the Biden administration. SBA announces record-breaking FY24 small-business contract awards. On Jan. 10, the Small Business Administration (SBA) announced that small businesses received over $183 billion in prime contracts from the federal government, accounting for 28.8% of all federal contracting dollars in fiscal year (FY) 2024. More information on the small-business FY24 contract data is available here . SBA advisory committees release annual reports.  On Jan. 8 and Jan. 10, respectively, SBA’s Invention, Innovation, and Entrepreneurship Advisory Committee (IIEAC) and Investment Capital Advisory Committee (ICAC) released their annual reports detailing various recommendations to SBA. The IIEAC report includes 12 recommendations to strengthen U.S. innovation, focusing on the Small Business Innovation Research and Small Business Technology Transfer (SBIR/STTR) programs. The ICAC report identifies various challenges small businesses face when seeking financing. SBA highlights new MySBA digital platform. On Jan. 17, SBA announced  its new single sign-on MySBA platform. Under the new platform, the SBA’s loans, certifications, and learning platforms are now housed under a centralized customer interface . SBA announces additions to CA SBLC program. On Jan. 16, SBA announced  additions to the Community Advantage Small Business Lending Company (CA SBLC) program. The additions include more nonprofit organizations to assist underserved markets. SBA awards $26M for new WBCs. On Jan. 16, SBA announced  it has awarded over $26 million to create 13 new Women’s Business Centers (WBCs) and support 17 existing WBCs nationwide. The investment marks the first SBA-awarded grants to provide specialized services for childcare and support government contracting efforts for women-owned small businesses. SBA announces availability of federal disaster loans to Southern CA businesses . On Jan. 10, SBA announced  that low-interest federal disaster loans are now available to Southern California businesses, homeowners, renters, and private nonprofit organizations (PNPs) due to the wildfires that began on Jan. 7. Loans are available to businesses of all sizes and PNP organizations to repair or replace damaged or destroyed real estate, machinery, equipment, inventory, and other business assets. Treasury releases recommendations on small-business financing.  On Jan. 10, the Treasury Department released  recommendations summarizing the Office of Financial Institutions Policy’s September roundtable  on small business finance and financial institutions. In addition to providing recommendations, the report covers trends in small-business capital access and the growth of non-bank financial technology providers in the small-business market. The full report is available here . Nat’l Taxpayer Advocate releases ’24 Annual Report to Congress. On Jan. 8, National Taxpayer Advocate Erin Collins released  her 2024 Annual Report to Congress , which found “overall improvement in IRS taxpayer service” while also highlighting “persistent challenges, particularly delays in processing Employee Retention Credit (ERC) claims and resolving Identity Theft Victim Assistance cases.” In the announcement, the IRS also noted the National Taxpayer Advocate’s 2025 Purple Book , which proposes nearly 70 legislative recommendations “intended to strengthen taxpayer rights and improve tax administration.” DoD publishes names of first cohort of funds approved under SBICCT Initiative. On Jan. 17, the Department of Defense (DoD) published  the names of the entire first cohort of Licensed and Green Light Approved funds under the Small Business Investment Company Critical Technologies Initiative (SBICCT Initiative). The first cohort is projected to invest over $4 billion into over 1,700 portfolio companies focused on DoD Critical Technology Areas (CTAs). FTC finalizes consent order on no-hire agreement . On Jan. 17, the Federal Trade Commission (FTC) finalized  a consent order requiring building services contractor Guardian Service Industries, Inc. to stop enforcing a no-hire agreement. The final consent order stems from the FTC’s Dec. 2024 complaint  alleging that Guardian’s agreements prohibit building owners and competing build service contractors from hiring Guardian employees. The consent order comes as the FTC and Department of Justice (DOJ), in their jointly-issued antitrust guidelines , included  the use of noncompetes as a specific type of agreement or business practice that may violate the antitrust laws. EDA awards $25M to support Good Jobs Challenge program grantees . On Jan. 14, the Commerce Department announced  that its Economic Development Administration (EDA) is awarding $25 million in Good Jobs Challenge program funding to eight grantees to support workforce training programs across the country. The awards expand the program to 35 states and one territory.