French Hill U.S. House of Representatives from Arkansas's 2nd district | Official U.S. House Headshot
French Hill U.S. House of Representatives from Arkansas's 2nd district | Official U.S. House Headshot
Rep. French Hill expressed approval following a decision by the Eastern District of Texas to issue a nationwide preliminary injunction against enforcing a reporting requirement mandated by the Corporate Transparency Act (CTA). This ruling comes ahead of the January 1, 2025, deadline.
Rep. Hill stated, "As a former entrepreneur and small business owner, I fought against the Corporate Transparency Act’s design, voted against it, and have been fighting FinCEN’s costly beneficial ownership reporting requirement in Congress." He further noted that with the approaching deadline, he supports the court's decision to halt this rule. Hill emphasized that this development could prevent small business owners from facing significant civil and criminal penalties.
The injunction represents an important moment for small businesses across the United States, according to Rep. Hill.
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