As RedState reported in December 2024, the Fifth Circuit Court of Appeals' injunction to halt enforcement of the Corporate Transparency Act-Beneficial Ownership (CTA-BOI) was first lifted, then reinstated. 

While small businesses had some relief over the holidays from the CTA-BOI's convoluted requirements, it still left them with a degree of uncertainty, especially since the Biden-Harris administration chose to file an appeal to compel enforcement. The hope of the organizations filing the lawsuit against CTA-BOI was that whatever might transpire in the courts, the new Trump administration would not strive to enforce it.

Perhaps this was part of the Supreme Court's thinking as well. SCOTUS agreed to reinstate the CTA-BOI and allow the Treasury Department to require small businesses to comply. Justice Ketanji Brown Jackson was the only one to dissent. 

The Supreme Court on Thursday agreed to reinstate a federal anti-money laundering law at the federal government’s request as a legal challenge proceeds in a lower court. 

The court’s emergency stay halts, for now, a federal judge’s injunction that blocked the Corporate Transparency Act (CTA), which would require millions of business entities to disclose personal information about their owners. 

Justice Ketanji Brown Jackson dissented.

The Biden-era Justice Department asked the high court late last month to intervene, and the court issued its ruling just three days after President Trump’s inauguration. Trump’s Justice Department did not withdraw the application, but during his first White House term, Trump had opposed the new law.

Breaking-- The Supreme Court stayed (aka removed/overturned) the injunction for the Corporate Transparency Act! We need the Trump administration to say they will not enforce penalties. We need Congress to repeal with the Repealing Big Brother Overreach Act. We need it now! https://t.co/o73JYwDbja

— Carol Roth (@caroljsroth) January 23, 2025

The National Federation of Independent Business (NFIB), one of the organizations that brought suit against the government, issued the following statement.

The National Federation of Independent Business (NFIB) is disappointed by today’s decision at the U.S. Supreme Court in NFIB’s lawsuit challenging the Corporate Transparency Act (CTA), Texas Top Cop Shop, Inc., et al. v. Garland, et al. Following the decision by the U.S. District Court for the Eastern District of Texas, which blocked enforcement of the Beneficial Ownership Information (BOI) reporting requirements, and subsequent appellate decisions which ultimately upheld that order, the U.S. Department of Justice (DOJ) asked the U.S. Supreme Court to reinstate the law. Unfortunately, the Supreme Court granted the government’s request.

“Today’s decision is a setback for small business,” said Beth Milito, Vice President and Executive Director of NFIB’s Small Business Legal Center. “Hopefully, Treasury recognizes the chaos that will ensue by requiring 32 million small businesses to imminently file their BOI information while the constitutionality of the reporting requirements is determined. As the next steps become clear, NFIB will inform small businesses on how to proceed.”

While the lawsuits are still ongoing and scheduled to be heard in March, this does not save businesses who choose not to comply. But here is the ray of hope: President Donald Trump signed an executive order freezing agencies from any new actions and updates. Since the CTA-BOI was in limbo with this injunction, the January 13, 2025, effecting date of compliance was stayed, and that effective date has since passed. Since agencies cannot create a new effective date or update their notices for a period, this gives Congress time to work to repeal this turkey.

On January 15, Rep. Warren Davidson (R-OH) re-introduced the Repealing Big Brother Overreach Act, which would repeal the CTA-BOI. 

🚨 NEW: Rep. Davidson re-introduces legislation to REPEAL the Corporate Transparency Act.

"The Financial Crimes Enforcement Network (FinCEN) infringes American small business owners’ privacy rights by forcing them to disclose sensitive information to the government. The CTA is a… pic.twitter.com/dJKaYmQDCt

— Rep. Warren Davidson (@Rep_Davidson) January 15, 2025

NEW: Rep. Davidson re-introduces legislation to REPEAL the Corporate Transparency Act. 

"The Financial Crimes Enforcement Network (FinCEN) infringes American small business owners’ privacy rights by forcing them to disclose sensitive information to the government. The CTA is a disaster for small businesses and must be repealed immediately”

Rep. French Hill (R-AR), who chairs the Financial Services Committee expressed his disappointment in the SCOTUS ruling and committed to working with the Trump administration to protect small businesses.

🚨Chairman @RepFrenchHill: "I am deeply disappointed that SCOTUS blocked the Corporate Transparency Act (CTA) injunction. I will work with the Trump Administration in my continued fight to save small businesses across America from having to comply with FinCEN's Biden-Harris… https://t.co/EzN8QabIoH

— Financial Services GOP (@FinancialCmte) January 23, 2025

Chairman @RepFrenchHill: "I am deeply disappointed that SCOTUS blocked the Corporate Transparency Act (CTA) injunction. I will work with the Trump Administration in my continued fight to save small businesses across America from having to comply with FinCEN's Biden-Harris designed burdensome reporting requirement."

While many have been heartened with the speed at which the Trump administration is righting the nation's ship, pressure still needs to be applied. Contact your representatives and demand the passage of the Repealing Big Brother Overreach Act. It certainly would not hurt to contact the Treasury Department as well and express your frustrations over leaving small businesses in this world of uncertainty.