Lawmakers Ask Appeals Court to Uphold Corporate Transparency Act
Rep. Maxine Waters, D-Calif., ranking member of the House Financial Services Committee, and four Democratic senators urged the U.S. Court of Appeals for the 11th Circuit to reverse a district court judge’s ruling that the Corporate Transparency Act (CTA) is unconstitutional.
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The lawmakers, who filed an April 22 friend-of-the-court brief, insisted that the CTA falls within Congress' Article I authorities in the Constitution. They said the CTA, which requires companies to submit information on who owns and controls them, is an important national security tool because it helps the federal government fight sanctions evasion, terrorist financing and other crimes.
The government is appealing the lower court’s March 1 decision.