Corporate Transparency Act
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https://www.washingtonpost.com/us-policy/2020/12/11/anonymous-shell-company-us-ban/
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A groundbreaking measure to ban anonymous shell companies in the United States cleared Congress on Friday as the Senate joined the House in passing a defense-spending bill with a veto-proof margin.The Corporate Transparency Act, which was tacked onto the defense bill, would require corporations and limited liability companies established in the United States to disclose their real owners to the Treasury Department, making it harder for criminals to anonymously launder money or evade taxes. The rule applies to future and existing entities alike.
The measure passed the Senate with an 84-to-13 vote as part of the National Defense Authorization Act, which cleared the House earlier this week. Trump pledged to veto the defense bill — one of few laws that passes every year — because it doesn’t include his demand to repeal liability protections for social media companies. Trump also opposes a clause that orders military bases named for Confederate leaders to be renamed.
The anonymous-shell-company ban was years in the making, as supporters slowly built a coalition of Democrats, Republicans, law-enforcement officials and even business groups that originally opposed the idea, such as the U.S. Chamber of Commerce. “
We are on the verge of celebrating the most significant anti-money-laundering victory in a generation due in large part to the widespread and growing support for reform,” said Clark Gascoigne, senior policy adviser at the FACT Coalition, an alliance of anti-corruption groups that helped push for the legislation.
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Sounds like a good idea, but why couldn’t they make it a separate bill? I don’t think it’s good to have weird things in an overall bill that don’t have anything to do with the majority content.
