Wyoming Leaders Join the Battle Against the CTA

The Wyoming Chamber of Commerce’s battle against the Corporate Transparency Act is gaining more momentum as influential figures rally to our side. Recently, notable advocates for our cause, U.S. Senator Cynthia Lummis, R-Wyoming, and Wyoming Secretary of State Chuck Gray, filed a Supreme Court brief to oppose lifting the CTA injunction. This filing came in response to the Supreme Court agreeing to take up Attorney General Merrick Garland’s request to lift the injunction that halted CTA reporting requirements.

This act is a prime example of government overreach that hurts small business owners. Millions of business owners across the country would be required to report extensive personal and financial details to FinCEN under the CTA, and many are unaware of the requirements. If they were to fail to comply with this act, they could face harsh monetary fines and even criminal charges. While the intent to protect our nation from foreign adversaries is an admirable goal and an issue that is essential to address, the CTA is not the way to go. The manner in which it has been approached has been nothing but harmful to our small businesses.

Your Wyoming Chamber of Commerce, along with the U.S. Chamber of Commerce and several other local and state level chambers, has been advocating for the removal of CTA reporting requirements. It is imperative that we find ways to deal with the threat of foreign adversaries, but not at the expense of our small businesses. We applaud Senator Lummis and Secretary of State Gray for taking a stand against this act, and we will fight alongside them to prevent its implementation.