SBE Council Statement of Support for the “Repealing Big Brother Overreach Act,” H.R. 425

By SBE Council at 20 April, 2026, 5:05 pm

The following statement of support for the "Repealing Big Brother Overreach Act," H.R. 425, can be attributed to Small Business & Entrepreneurship Council (SBE Council) President & CEO Karen Kerrigan:

"SBE Council strongly supports H.R. 425, the Repealing Big Brother Overreach Act. While the U.S. Department of the Treasury has taken the important step of pausing enforcement of the Corporate Transparency Act's (CTA) beneficial ownership reporting requirements for U.S. small businesses, and a final rule is expected soon, regulators in a future Administration could reverse these positive steps and bring the mandate back to life. Congressional action is necessary to provide certainty and permanent relief for America's entrepreneurs and small business owners."

"SBE Council welcomed Treasury's decisionto halt enforcement of this burdensome mandate on U.S. small businesses. However, the regulatory fix is not a substitute for permanent policy. H.R. 425 ensures that entrepreneurs are protected for the long term from a sweeping requirement that is confusing, costly, and carries significant privacy risks."

"SBE Council also supports the anticipated amendment requiring the U.S. Department of the Treasury to expunge previously collected beneficial ownership data submitted by small business owners. Given the shifting regulatory landscape and the halt in enforcement for U.S. small businesses, retaining this sensitive information serves no constructive purpose and presents unnecessary privacy and cybersecurity risks. Small business owners complied in good faith under evolving guidance, and that data should not remain in a federal database vulnerable to misuse or breach."

"SBE Council is grateful for the leadership of Congressman Warren Davidson in championing this legislation. We urge members of the House Financial Services Committee, and every member of the House, to support H.R. 425, including the data-cleansing provision, to deliver lasting certainty, protect small business privacy, and roll back costly and intrusive federal overreach."

SBE Council is a nonpartisan advocacy, research and education organization dedicated to protecting small business and promoting entrepreneurship. For more than 30 years, SBE Council has advanced a range of private sector and public policy initiatives to strengthen the ecosystem for strong startup activity and small business growth.

Visit www.sbecouncil.org for additional information. X: @SBECouncil