Saturday, December 12, 2020
Congress Bans Anonymous Shell Companies
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, reports The Washington Post.
The measure passed the Senate on Friday with an 84-to-13 vote as part of the National Defense Authorization Act, which cleared the House earlier this week. Trump has pledged to veto the defense bill because it doesn’t include his demand to repeal liability protections for social media companies, so we shall see. Trump also opposes a clause that orders military bases named for Confederate leaders to be renamed.