Brad Close President | NFIB Alabama
Brad Close President | NFIB Alabama
A recent podcast hosted by the National Federation of Independent Business (NFIB) featured Alabama Senator Tommy Tuberville and Ohio Representative Warren Davidson discussing a new legislative effort. The legislation aims to repeal the Corporate Transparency Act and its associated reporting registry.
This law, which established a small business ownership registry, took effect on January 1, 2024. The NFIB is advocating against this requirement, arguing that it imposes an unnecessary burden on small business owners.
Senator Tuberville and Representative Davidson are leading the charge in Congress to remove this mandate. During the podcast, they shared their perspectives on the potential impact of this registry on the 30 million small businesses across the United States, as well as concerns over potential security threats from the registry's database.
NFIB Vice President of Government Relations, Jeff Brabant, provided insight into what the new reporting requirement entails for small business owners and the penalties associated with non-compliance.
Alerts Sign-up