Particularly in the wake of the tumultuous events of last week, it feels as though America’s divisions are so deep that our government cannot take meaningful action. However, there have been recent moments of successful bipartisan cooperation that deserve celebration.
On the eve of International Anti-Corruption Day, the U.S. House of Representatives passed an historic measure to end anonymous companies by a veto-proof margin. The Corporate Transparency Act, included in the annual “must-pass” defense bill known as the National Defense Authorization Act, is expected to become law before the end of the year. As we mark International Anti-Corruption Day, this significant step forward for the U.S., which has historically lagged behind other nations–hopefully ushers in a new era of U.S. leadership on transparency and anti-corruption.
FACT sent a letter on the eve of the final NDAA vote urging to congressional leaders to pass beneficial ownership reforms before the end of the year.
Real estate associations sent a letter to the Senate and House Armed Services Committees, urging members to take up legislation ending anonymous companies in the must-pass National Defense Authorization Act.
The Anti-Money Laundering Act would end the abuse of anonymous companies and has the support of the business community, national security experts, and law enforcement.
The House has shown it’s serious about ending the abuse of anonymous companies. Now the Senate must get this reform across the finish line.