Corporate Transparency Act Passes House

Washington DC - The House of Representatives passed the Corporate Transparency Act of 2019 (H.R. 2513) by a  249 to 173 vote. The bill reveals the true owners of "anonymous" shell companies to law enforcement.

"This legislation stops human traffickers, corrupt government officials and revenue loss in the developing world,” noted Eric LeCompte, a United Nations finance expert and the Executive Director of the religious development group Jubilee USA. “The Senate must now pass this vital legislation."

The bill now heads to the Senate, where Senators could likely move this bill or similar legislation. The White House and US Treasury pledge support for this type of legislation.