The National Federation of Independent Business (NFIB), a prominent small business advocacy group, has spearheaded an initiative with 60 trade associations to support legislation aimed at repealing the Corporate Transparency Act (CTA). This coalition has addressed a letter to Senator Tommy Tuberville and Representative Warren Davidson, endorsing their proposed Repealing Big Brother Overreach Act. The legislation seeks to eliminate the CTA and its associated beneficial ownership reporting requirements that affect over 32 million small businesses.

Josh McLeod, NFIB Director of Government Relations, expressed concerns about the CTA's impact on small businesses. "Small businesses fear all the Corporate Transparency Act has done is impose tens of billions of dollars in compliance costs on Main Street while failing to stop the criminal activity it was intended to target," he stated. He further emphasized NFIB's support for the repeal act, urging Congress for swift action to relieve these businesses from what he described as an "unconstitutional power grab."

The coalition includes a diverse range of organizations such as the Air Conditioning Contractors of America, American Council of Engineering Companies, Brewers Association, National Grocers Association, and many others. These groups collectively represent various sectors including construction, retail, manufacturing, and agriculture.

For eight decades since its founding in 1943, NFIB has been dedicated to advocating for small and independent business owners across the United States. It remains a nonprofit and nonpartisan organization focused on representing these interests both federally and at state levels.