 Photo credit: Gage Skidmore Bob Goodlatte, former Chairman of the House Judiciary Committee and Senior Policy Advisor to the Project for Privacy and Surveillance Accountability (PPSA) made this statement on Friday about efforts to repeal the Corporate Transparency Act: “In recent years we’ve seen a dramatic expansion of financial surveillance of the American people. The Securities and Exchange Commission instituted a database called the Consolidated Audit Trail that grants more than 3,000 bureaucrats access to every American’s private trades and personal information. We’ve seen, thanks to investigations by the House Judiciary Committee, how the U.S. Treasury Department’s Financial Crimes Enforcement Network engaged in the warrantless collection of Americans’ personal transactions from banks. “These acts of surveillance, based on no statute, can be wound back by President-elect Trump’s senior appointees. One act of brazen surveillance, however, will require Congress to undo a law it passed in 2021 – the Corporate Transparency Act. This law now requires the owners of 32 million small businesses to file the details of the ownership of their companies or face $10,000 in fines and up to two years in prison. “As PPSA attested in our amicus brief to the Eleventh Circuit, this requirement is incompatible with America’s Founding-era ideals and the Fourth Amendment. That is why PPSA salutes the leadership of Senator Tommy Tuberville and Representative Warren Davidson who are sponsoring legislation to repeal the Corporate Transparency Act. Quick passage for President Trump’s signature would be a strong and early sign that the 119th Congress means business. And it would be a good start on rolling back the financial surveillance state.” Comments are closed.
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