Opinion: Proposed legislation punishes small businesses
As a Cincinnati small business owner for more than 30 years, I thought I’d seen it all when it came to over-regulation. I was wrong.
Congress is considering a bill that would do something unprecedented: slap new mandates on small businesses while giving large corporations a free pass. Not only that, lawmakers are selling this legislation as if it only applied to big business. It’s called the “Corporate Transparency Act,” and Congress needs to kill it.
There’s a reason that politicians gave the bill such a friendly name. Few people are opposed to corporate transparency, and no member of Congress wants to be seen opposing such sensible things. But if you look past the name at the substance of the bill, you’ll find a bill that has nothing to do with corporations or transparency. What you will find is legislation that 80% of small businesses say is a bad idea.