网曝吃瓜

WASHINGTON, D.C. (March 17, 2026)听鈥� The听网曝吃瓜 (网曝吃瓜), the nation鈥檚 leading small business advocacy organization, submitted听testimony for the record听to the U.S. House Committee on Financial Services ahead of its听听entitled 鈥淯pdating America鈥檚 Financial Privacy Framework for the 21^st听Century.鈥� The testimony urges Congress to immediately protect small businesses by repealing the听Corporate Transparency Act听(CTA) and deleting the Beneficial Ownership Information (BOI) that millions of small businesses were required to file with the federal government.

鈥淭he significant data privacy risk from the BOI database is just one reason small businesses overwhelmingly oppose the CTA,鈥� said听Josh McLeod,听网曝吃瓜 Director of Federal Government Relations.听鈥淭hankfully, President Trump recognized the absurdity of BOI. He called the law 鈥榠nvasive, outrageous, and an economic menace.鈥� President Trump is right and small businesses overwhelmingly support his March 2025 exemption of U.S. businesses from the CTA. This exemption reduced compliance and regulatory costs by over $128 billion, allowing small businesses to keep more of their hard-earned dollars in their businesses and communities. Congress must make this massive regulatory savings permanent as soon as possible.

鈥淯nfortunately, without Congressional leadership, the threat of BOI reemerging under a future Administration is likely. That is why over 30 million small businesses need Congress to step up and solidify this victory. If Congress fails to act, 32.6 million small business owners could be left vulnerable to data leaks and a future Administration reimposing this unconstitutional mandate.鈥�

Read 网曝吃瓜鈥檚 full testimony听here.

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For over 80 years, 网曝吃瓜 has been advocating on behalf of America鈥檚 small and independent business owners, both in Washington, D.C., and in all 50 state capitals. 网曝吃瓜 is nonprofit, nonpartisan, and member-driven. Since our founding in 1943, 网曝吃瓜 has been exclusively dedicated to small and independent businesses, and remains so today. For more information, please visit nfib.com.