Wall Street counter strike against Main Street small businesses has been launched.
House Bill: 2513 named The Corporate Transparency Act:
Projected to add 131.7 hours of paper work at a projected costs of $5.7B over the next ten years. Want to bet the costs and time are multiples of that?
Companies of 20 or fewer employees would need to submit annual reports including personally identifying information. Fines of $10K and 3 years in prison.
Requires individual names, addresses, birth dates and driver license numbers could be made public. If you own, know someone who does or simply like the neighbor small businesses in you area, time to let them know about this.
I would expect a veto from PDJT after it gets through the Senate but if I had a small business or know someone who does they need to know about this. I would also be contact with my senator, like yesterday.