NFIB supports legislation introduced by U.S. Representative Warren Davidson (OH-08) and U.S. Senator Tommy Tuberville (AL) to repeal the Corporate Transparency Act (CTA). Repealing the CTA will relieve small businesses of beneficial ownership information (BOI) requirements, one of the largest and most burdensome small business regulations.

“Repealing the Corporate Transparency Act is welcome news to small business owners, as the Act contained one of the largest and intrusive pieces of legislation affecting the small business economy in generations,” said Jeff Brabant, NFIB Vice President of Federal Government Relations. “This Act singles out small business owners and subjects them to civil and criminal penalties for simple paperwork violations.”