GOP senator calls for repealing new law designed to prevent money laundering and terrorism
Raw StorySen. Mike Lee took to X on Friday to try to drum up public support for his plan to repeal a recently enacted law intended to crack down on money laundering and the finance of terrorism. "I’ve got a bill — the Saving Privacy Act — that would repeal the Corporate Transparency Act," wrote Lee, quoting a post from several months ago by Sen. Tommy Tuberville railing against the law. Lee's comment generated praise from armies of Trump supporters and right-leaning small business owners; however, it also drew criticism from some experts. The Corporate Transparency Act, which was passed in 2019 and first took effect at the start of this year, requires U.S. corporate entities with fewer than 20 employees to disclose all the people who either hold at least a 25 percent stake in the business or exercise "substantial control" over it to the federal government by Jan. 1.
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GOP lawmakers set sights on abolishing TSA
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