CONGRESS FOR VOTERS

Warren Davidson (R-OH)

Repealing Big Brother Overreach Act

H.R. 425 · House bill Finance and Financial Sector

A Republican bill with 193 Republican cosponsors · See all 193 cosponsors

Last activity — Placed on the Union Calendar, Calendar No. 609.

Cleared committee, waiting for its first floor vote

A committee approved it and it is on the calendar of the chamber it started in.

This is further than most bills get, and still no promise of a vote: the calendar is a queue, and the majority leadership decides what is called. A bill can sit here until the Congress ends.

Its path through Congress

  1. Introduced
  2. On Calendar

What this bill would do

This bill, titled the "Repealing Big Brother Overreach Act," seeks to repeal the Corporate Transparency Act. It proposes significant changes to the beneficial ownership information reporting requirements under title 31 of the United States Code. The bill directs that the term "foreign" be inserted into various parts of the existing law regarding beneficial ownership. Additionally, it mandates the deletion of specific collected data. Specifically, the Financial Crimes Enforcement Network must delete information relating to non-foreign individuals and certain entities.

Yes

  • Scored +7

    Would business owners be better off under this?

    The bill benefits business owners by removing federal reporting requirements for their ownership information.

  • Scored +7

    Does this protect people from being watched or searched?

    The bill enhances privacy by mandating the deletion of beneficial ownership information for non-foreign individuals and entities.

  • Scored +6

    Does this make it easier to run a small business?

    The bill reduces the regulatory burden on small businesses by repealing the Corporate Transparency Act and deleting their beneficial ownership data.

The opposite

  • Scored -5

    Does this make what the government does easier for the public to see?

    The bill reduces transparency requirements by limiting the reporting of beneficial ownership information to only foreign persons.

  • Scored -2

    Would people in cities be better off under this?

    The reduction in transparency requirements may impact urban-based corporate oversight.