Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
This bill would repeal the Corporate Transparency Act (title LXIV of division F of the William M. (Mac) Thornberry NDAA for FY2021) and related amendments made by that law. It removes the statutory authority for beneficial-ownership reporting requirements and makes conforming technical changes to Title 31 and the Anti‑Money Laundering Act of 2020.
Progressives emphasize anti‑money‑laundering and enforcement losses
Relative to its intended legislative type, this bill plainly aims to effect a substantive policy change by repealing the Corporate Transparency Act and making related technical amendments, but it provides limited implementation detail and contains unclear or malformed amendment language.
This bill would repeal the Corporate Transparency Act (title LXIV of division F of the William M. (Mac) Thornberry NDAA for FY2021) and related amendments made by that law.
It removes the statutory authority for beneficial-ownership reporting requirements and makes conforming technical changes to Title 31 and the Anti‑Money Laundering Act of 2020.
The text does not specify disposition of any data already collected under the repealed provisions.
High substantive controversy, limited compromise features, and unclear cross‑chamber support lower its odds absent major amendments or political shifts.
Relative to its intended legislative type, this bill plainly aims to effect a substantive policy change by repealing the Corporate Transparency Act and making related technical amendments, but it provides limited implementation detail and contains unclear or malformed amendment language.
Progressives emphasize anti‑money‑laundering and enforcement losses
These are examples from the analysis, not a ranked list of the most-affected groups.
Progressives emphasize anti‑money‑laundering and enforcement losses
Likely strongly opposed.
They would view the CTA repeal as removing a key anti‑money‑laundering and anti‑corruption tool that helps detect illicit finance, tax evasion, and sanctions evasion.
They would worry the bill would increase anonymity for bad actors and weaken law enforcement and financial transparency.
Ambivalent to somewhat opposed.
They would recognize legitimate concerns about reporting burden and privacy, but also value the law enforcement and tax‑administration benefits of beneficial‑ownership reporting.
They would focus on implementation fixes rather than full repeal.
Likely supportive.
They would view the repeal as rolling back federal overreach, protecting privacy, and reducing burdens on small businesses and entrepreneurs.
They would emphasize limited government and concerns about a federal registry of beneficial owners.
Reached or meaningfully advanced
Reached or meaningfully advanced
Still ahead
Still ahead
Still ahead
High substantive controversy, limited compromise features, and unclear cross‑chamber support lower its odds absent major amendments or political shifts.
The bill has not accumulated any surfaced votes yet.
Progressives emphasize anti‑money‑laundering and enforcement losses
High substantive controversy, limited compromise features, and unclear cross‑chamber support lower its odds absent major amendments or poli…
Relative to its intended legislative type, this bill plainly aims to effect a substantive policy change by repealing the Corporate Transparency Act and making related technical amendments, but it provides limited implem…
Go beyond the headline summary with full stakeholder mapping, legislative design analysis, passage barriers, and lens-by-lens tradeoff breakdowns.