Referred to the House Committee on Financial Services.
This bill repeals the Corporate Transparency Act (CTA) and the statutory amendments made by that Act. It also makes technical and conforming changes to Title 31, United States Code, and repeals or amends certain sections of the Anti‑Money Laundering Act of 2020 (Title LXV of division F of the FY2021 NDAA).
Progressives emphasize AML and anti‑corruption harms from repeal
Relative to its intended legislative type, this bill clearly identifies a substantive repeal as its objective and attempts to provide conforming statutory edits, but its execution-level detail is sparse and partly ambiguous.
This bill repeals the Corporate Transparency Act (CTA) and the statutory amendments made by that Act.
It also makes technical and conforming changes to Title 31, United States Code, and repeals or amends certain sections of the Anti‑Money Laundering Act of 2020 (Title LXV of division F of the FY2021 NDAA).
The effect is to remove the CTA's legal reporting framework and related statutory provisions as specified in the text.
Contentious substantive rollback of an AML transparency law with limited compromise features makes enactment uncertain, especially in a two‑chamber system.
Relative to its intended legislative type, this bill clearly identifies a substantive repeal as its objective and attempts to provide conforming statutory edits, but its execution-level detail is sparse and partly ambiguous. Key implementation and integration elements that would typically accompany a repeal of this scope are absent or unclearly specified.
Progressives emphasize AML and anti‑corruption harms from repeal
These are examples from the analysis, not a ranked list of the most-affected groups.
Progressives emphasize AML and anti‑corruption harms from repeal
Likely strongly opposed.
Repealing the CTA removes a federal beneficial‑ownership reporting framework designed to combat money laundering, corruption, and illicit finance.
The persona would view this as a rollback of accountability and transparency that can harm anti‑corruption and civil‑rights enforcement.
Mixed/leaning opposed.
Views the CTA's goals—preventing illicit finance—as legitimate but recognizes compliance burdens and privacy concerns.
Prefers narrowly tailored fixes, improved data security, or thresholds rather than full repeal.
Likely strongly supportive.
Views repeal as rolling back federal overreach, protecting privacy, and removing costly compliance obligations from small businesses.
Sees CTA as an unnecessary central database with civil‑liberties implications.
Reached or meaningfully advanced
Reached or meaningfully advanced
Still ahead
Still ahead
Still ahead
Contentious substantive rollback of an AML transparency law with limited compromise features makes enactment uncertain, especially in a two‑chamber system.
The bill has not accumulated any surfaced votes yet.
Progressives emphasize AML and anti‑corruption harms from repeal
Contentious substantive rollback of an AML transparency law with limited compromise features makes enactment uncertain, especially in a two…
Relative to its intended legislative type, this bill clearly identifies a substantive repeal as its objective and attempts to provide conforming statutory edits, but its execution-level detail is sparse and partly ambig…
Go beyond the headline summary with full stakeholder mapping, legislative design analysis, passage barriers, and lens-by-lens tradeoff breakdowns.