RELEASE: REP. HILL APPLAUDS NATIONWIDE PRELIMINARY INJUNCTION TO HALT CORPORATE TRANSPARENCY ACT FROM BEING IMPLEMENTED
WASHINGTON, D.C.,
December 3, 2024
WASHINGTON, D.C. – Rep. French Hill (AR-02) today released the following statement after the Eastern District of Texas issued a nationwide preliminary injunction against the enforcement of FinCEN’s burdensome - and potentially unconstitutional - reporting requirement as required by the Corporate Transparency Act (CTA) ahead of the January 1, 2025, deadline. “As a former entrepreneur and small business owner, I fought against the Corporate Transparency Act’s design, voted against it, and have been fighting FinCEN’s costly beneficial ownership reporting requirement in Congress. With the January 1, 2025, deadline rapidly approaching, I applaud the Eastern District of Texas’ nationwide preliminary injunction to halt this rule. It is an important step ahead of the nearing deadline and may save small business owners from steep civil and criminal penalties. Today is a big day for small businesses across America.” |
