Political Quotes

“The Rules Committee met last night and reported a structured rule, House Resolution 646, providing for consideration of H.R. 2513, the Corporate Transparency Act. The rule self-executes Chairwoman Waters' manager's amendment and makes in order five amendments. The rule provides 1 hour of debate, equally divided and controlled by the chair and ranking minority member of the Committee on Financial Services, and provides for one motion to recommit. Madam Speaker, I am pleased we are here today to provide for consideration of this important, bipartisan legislation to help law enforcement do their job and protect our national security. The lack of transparency in parts of our financial system has created an environment in which criminals, who should be shut out of the financial system, can use anonymous shell companies to launder money, finance terrorism, and engage in other illicit activities. I want to applaud the work of Subcommittee on Investor Protection, Entrepreneurship, and Capital Markets Chairwoman Carolyn Maloney for her work over the last decade to understand these problems and develop the solution we have in front of us this week. The Corporate Transparency Act would require corporations and limited liability companies to disclose their true beneficial owners to the Financial Crimes Enforcement Network, or FinCEN, at the time a company is formed and in annual corporate filings thereafter.…”