Senators introduce legislation to roll back Corporate Transparency Act
Fresh on the heels of the House Financial Services Committee advancing legislation (H.R. 425) to provide relief to small businesses from burdensome provisions of the Corporate Transparency Act, Sens. John Kennedy (R-La.) and Mike Lee (R-Utah) introduced a bill that mirrors the House approach. The bill would codify the Treasury Department's March 2025 rule limiting the Corporate Transparency Act reporting to foreign entities only while also requiring FinCEN to delete the personal data already collected from American small-business owners under the original mandate.
The Corporate Transparency Act was originally passed by Congress as part of the Anti-Money Laundering Act of 2020 to crack down on the illicit activities of shell companies. NRCA has long opposed the law because it would require legitimate small-business owners—who pose no risk to national security—to provide sensitive private data to the federal government under the guise of combatting illicit finance.
The recent committee approval of the House bill, coupled with the introduction of the Senate bill, are clear signs momentum is building on both sides of the Capitol regarding the need for this legislation. NRCA will continue working with lawmakers to finalize a permanent fix to the Corporate Transparency Act during the remainder of this session of Congress.
Environmental Protection Agency releases final risk evaluation for popular industrial solvent
On April 30, the Environmental Protection Agency posted a link to the Final Risk Evaluation for 1,2-Dichloroethane (ethylene dichloride). NRCA and its Chlor-Vinyl Alliance partners have been most concerned with the potential of truncating the Toxic Substances Control Act risk evaluations process because ethylene dichloride is one of the 17 chemicals under consideration. The chemical has historically been used as an industrial solvent and intermediate product in the manufacture of polyvinyl chloride, which is used extensively in many construction applications because of its durability, versatility and cost-effectiveness.
Earlier this year, NRCA and partner organizations submitted comments to the EPA on the draft risk evaluation of ethylene dichloride under the Toxic Substances Control Act. On a preliminary basis, it appears positive changes were made because of the alliance’s comments, which include revisions to the environmental risk assessment and language acknowledging the potential effects of the mutagenicity study. NRCA will continue to review the risk evaluation document and work with the EPA to ensure ethylene dichloride is regulated based on the best available science in accordance with federal law.
Discharge Petition on legislation to expedite collective bargaining contracts
Rep. Donald Norcross (D-N.J.) has filed a Discharge Petition on the Faster Labor Contracts Act (H.R. 5408), bipartisan legislation to modify federal labor law with respect to collective bargaining agreements. The bill would require employers and unions to finalize initial contracts within 120 days or face mandatory arbitration, under which government-appointed arbitrators would set the terms and conditions for the first labor contract. NRCA opposes the legislation because of concerns it would effectively discard the “voluntary agreement” principle critical to current federal labor law and dramatically expand the authority of the federal government in private markets.
If 218 members of the House sign the Discharge Petition, House leadership could be forced to schedule H.R. 5408 for a floor vote. The Discharge Petition has been signed by 199 House members to date, including one Republican, Rep. Mike Lawler (R-N.Y.). If all Democrats sign the petition, as well as three more of the 18 Republicans who have co-sponsored H.R. 5408, the petition likely will be successful in forcing a House vote on the bill. NRCA and other members of the Coalition for a Democratic Workplace are working in opposition to the Discharge Petition because of concerns with the underlying legislation. Although it has been rare for Discharge Petitions to succeed in advancing legislation during the past few decades, the tool is being used more often given the current razor-thin Republican majority in the House.
Help ROOFPAC finish fiscal year 2025-26 strong
As NRCA’s fiscal year 2025-26 nears its close, we are asking all members to consider a personal contribution to help ensure the roofing industry has a seat at the table. ROOFPAC is the only political action committee dedicated to supporting the roofing industry in Washington, D.C. A strong ROOFPAC is critical to NRCA’s work advancing pro-growth economic policies and career and technical education—all to help protect and grow your business! NRCA members can contribute any amount from $25 up to $5,000 annually online.
You also can show your support by joining a ROOFPAC club featuring exclusive benefits and recognition:
- Emerging Leaders Club: $250
- Capitol Hill Club: $1,000
- Political Insiders Council: $5,000
Click here to learn more and contribute! Questions? Contact Teri Dorn, NRCA's director of political affairs, at (202) 510-0920 or tdorn@nrca.net.
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