Sunday, April 28, 2024

Congressman Good Update: Fighting to Prioritize Our Nation

The America-Last Foreign Aid Package

This week the Senate passed the $95 billion foreign aid package, and it is now unfortunately on its way to President Biden's desk. The United States is $35 trillion in debt and inflation has risen by 19.4% since Biden took office. It is disappointing, if not surprising, that some Republicans would join with every Democrat in the House and Senate to borrow nearly $100 billion from future generations to secure other country's borders, finance Hamas terrorists, and leave our own borders wide open.

New Intrusive Reporting Requirements on Small Businesses

A few years ago, the Democrat-controlled Congress passed the Corporate Transparency Act (CTA), overriding the veto of President Trump. This legislation requires new beneficial ownership information (BOI) reporting to the Financial Crimes Enforcement Network (FinCEN) for the smallest of businesses, those with under 20 employees and less than $5 million in sales. This covers most small businesses in the U.S. and the supposed purpose is to identify shell companies used for illegal transactions and create a registry of these businesses. 

The new BOI reporting requirements went into effect on January 1, 2024. FinCEN estimates that more than 32 million small businesses will be forced to file in 2024, with an additional five to six million filing every year thereafter. Failure to comply could result in fines of up to $10,000 and criminal penalties of up to two years in prison.

In a November 2023 letter to congressional leaders, 69 groups representing millions of these small business owners stated that neither they nor FinCEN were prepared for the law to go into effect in January of 2024. According to a recent National Federation of Independent Businesses (NFIB) survey, 90 percent of respondents were unfamiliar with these new requirements and at risk of severe consequences for failure to comply. While a single federal District Court Judge found this law to be unconstitutional, there is not a nationwide injunction on the law's implementation, and FinCEN is continuing to insist that covered businesses comply with the filing requirement.

This week I joined Rep. Warren Davidson (R-OH) of the Financial Services Committee in co-sponsoring the Repealing Big Brother Overreach Act. This legislation would repeal the CTA and the BOI requirement. In the meantime, if you have received notice from FinCen or have concerns about this new burdensome regulation, please contact my office so I can add your voice to my efforts to repeal this unconstitutional bureaucratic intrusion.

Standing Up for Your Second Amendment Rights

This week, I co-sponsored the Protecting the Right to Keep and Bear Arms Act introduced by fellow Freedom Caucus member Rep. Michael Cloud (R-TX). This legislation would prevent President Biden and the Department of Health and Human Services (HHS) from using public health emergencies to implement unconstitutional gun restrictions.

President Biden, HHS Secretary Xavier Becerra, and New Mexico Governor Michelle Lujan Grisham have all declared gun violence a "public health emergency" and used it to institute more unlawful gun control measures. This legislation would prevent these actions and help secure your Second Amendment rights.