Montgomery, AL – Alabama Secretary of State Wes Allen has joined 19 other conservative Secretaries of State in signing a joint letter to former President Donald Trump, urging the repeal of the Corporate Transparency Act (CTA). The act, which took effect in 2024, requires small business owners to report certain information to the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN). Supporters of the repeal argue that the law imposes unnecessary regulatory burdens on small businesses.
In a statement, Allen criticized the CTA as government overreach. “The CTA is a classic example of the disastrous policies championed by the Biden-Harris administration. It is blatant government overreach, and I will continue to call it out,” he said. “From advocating to remove costly business filing requirements and fees in Alabama to demanding that the federal government lift unnecessary burdens off all American small business owners, my track record for supporting small business is clear, and it is strong.”
The Corporate Transparency Act was enacted to enhance financial transparency and prevent illicit activities such as money laundering and fraud. However, opponents, including Allen, argue that its implementation has negatively impacted small business owners by adding complex reporting requirements. Noncompliance with the CTA carries significant penalties, including fines and possible prison sentences.
“The requirements of the CTA punish legitimate small business owners and allow bad actors to slip through loopholes unscathed,” Allen stated. “Hardworking men and women across Alabama and the country have been unnecessarily burdened in their pursuit of the American Dream for too long.”
Efforts to repeal the law have gained support at the federal level. U.S. Senator Tommy Tuberville (R-AL) introduced the “Repealing Big Brother Overreach Act,” which aims to eliminate the CTA’s reporting requirements. Allen has publicly supported the legislation, emphasizing his opposition to what he views as excessive government intervention.
“We must cut government red tape where we find it,” Allen said. “The passage of the ‘Repealing Big Brother Overreach Act’ would be a victory for all who believe that the federal government should be a limited and effective institution for the American people.”
As Alabama’s 54th Secretary of State, Allen serves as the state’s Chief Elections Official and oversees more than 1,000 statutory duties. His office continues to advocate for reducing regulatory barriers for businesses in Alabama.
