Save Main Street
President Trump and Congress recently delivered a major victory to small-business owners, with the passage and signature of the One Big Beautiful Bill Act. In the bill, lawmakers stood up for Main Street and made the 20 percent Small Business Deduction permanent, allowing our smallest employers to re-invest more of their hard-earned money into their businesses, their employees, and their communities.
But Main Street needs more than a permanent tax cut; it needs permanent regulatory relief.
Back in 2021, Congress imposed one of the most heavy-handed and invasive mandates on small businesses--and you've probably never heard of it. It's called The Corporate Transparency Act (CTA), a misnomer, which includes a costly mandate called the Beneficial Ownership Information (BOI) Reporting Requirement.
Supporters claim this law is needed to go after shell companies and money-laundering. The CTA creates a new database with the Financial Crimes Enforcement Network (FinCEN), the law enforcement arm of the Treasury Department. But only small businesses with 20 or fewer employees and $5 million or less in sales are required to file their BOI. That means........
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