Washington DC - The House of Representatives scheduled a vote for 5:15 PM EST on the Corporate Transparency Act of 2019 (H.R. 2513). The bill reveals the true owners of "anonymous" shell companies to law enforcement.
"This legislation helps us stop human traffickers and corrupt public officials and protects development aid,” said Eric LeCompte, a United Nations finance expert and the Executive Director of the religious development group Jubilee USA. LeCompte's organization generated thousands of messages to Congress in support of the bill. “Shell companies contribute to a trillion dollar loss to the developing world every single year."
The bill, sponsored by Representatives, Peter King (R-NY), Carolyn B. Maloney (D-NY) and Tom Malinowski (D-NJ) would prevent types of Medicare fraud and stop a number of criminal activities.
Read Jubilee USA's Action Alert on the Corporate Transparency Act