Protect Small Businesses From Excessive Paperwork Act of 2025

Floor Speech

BREAK IN TRANSCRIPT

Mr. MEUSER. Mr. Speaker, I once again thank Chairman Hill for his leadership. I do, as well, rise today in strong support of the Protect Small Businesses from Excessive Paperwork Act of 2025, H.R. 736, introduced by my colleague, Congressman Nunn.

Small businesses create jobs, drive innovation, support local communities, and really make the difference in communities. Unfortunately, the previous administration imposed many duplicative and costly regulations on small businesses simply to make it harder for them to survive. One of the latest and most egregious examples is the FinCEN beneficial ownership information reporting rule, which we are all very aware of at this point. This rule literally forces millions of small businesses that have less than 20 employees and under $5 million in revenue to file redundant, intrusive, and unnecessary reports to the Federal Government under the threat of very steep penalties of up to $10,000.

H.R. 736 rightfully delays the beneficial ownership reporting rule 1 year, to 2026, giving the Trump administration and the courts time to assess the proper path forward for small businesses. Actually, this reporting information can provide some usefulness as opposed to just a great burden.

Republicans received a mandate to cut the red tape and push back against unnecessary, punitive regulations--and we are going to do it-- that do more harm than good.

Mr. Speaker, again, I thank Chairman Hill and Representative Nunn for prioritizing this much-needed relief for small businesses. Small businesses need our support, not our red tape and bureaucratic demands for unnecessary, nonsensical information.

Mr. Speaker, I urge my colleagues to support this legislation.

BREAK IN TRANSCRIPT

Source