The House Financial Services Committee held a markup yesterday to consider twelve pieces of legislation. Notably absent was the Protecting Small Business Information Act (H.R. 4035), a bill to delay the Corporate Transparency Act’s January 1, 2024 effective date. The Main Street business community recently voiced its support for that legislation and had hoped to see it taken up by the panel.
The Committee’s failure to act raises two key points.
First, it is obvious House and Senate leaders are unaware of the political backlash coming their way if and when the CTA goes into full effect. By Treasury’s own …