H.R. 425 Reported by committee Finance and Financial Sector

Repealing Big Brother Overreach Act

To repeal the Corporate Transparency Act.

  1. Introduced
  2. Committee
  3. Passed House
  4. Passed Senate
  5. To President
  6. Became law
Sponsor Rep. Davidson, Warren [R-OH-8] Introduced January 15, 2025 Cosponsors 193 (193 R) Latest action June 18, 2026

Summary

Repealing Big Brother Overreach Act
This bill repeals the Corporate Transparency Act. The act requires existing companies and newly created companies to report beneficial ownership information to the Department of the Treasury’s Financial Crimes Enforcement Network for purposes of addressing the financing of terrorism and money laundering.

Summary by the Congressional Research Service, Library of Congress.

Congress.gov

Actions

  1. Jun 18, 2026 Placed on the Union Calendar, Calendar No. 609.
  2. Jun 18, 2026 Reported (Amended) by the Committee on Financial Services. H. Rept. 119-701.
  3. Apr 21, 2026 Ordered to be Reported by the Yeas and Nays: 26 - 25.
  4. Apr 21, 2026 Committee Consideration and Mark-up Session Held
  5. Jan 15, 2025 Referred to the House Committee on Financial Services.
  6. Jan 15, 2025 Introduced in House

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