This week, the National Federation of Independent Business (NFIB) launched billboards in Arkansas to urge Congress members to repeal the Beneficial Ownership Information (BOI) reporting rule. The NFIB argues that this rule is unconstitutional and invasive, threatening the privacy of small business owners.
Last month, NFIB released advertisements in Arkansas, including radio and digital ads. These ads encourage Congress members from Arkansas to protect small business owners’ privacy by making President Trump’s order exempting American small businesses from BOI reporting a law. They also call for a full repeal of the BOI law and demand that the Financial Crimes Enforcement Network (FinCEN) destroy all beneficial ownership information already submitted by U.S. small businesses.
The NFIB has been opposing these regulations for over six years across various platforms, aiming to block and repeal them permanently. According to NFIB, if not repealed, 32 million small businesses nationwide could face this mandate again. Non-compliance could result in criminal and civil penalties, including up to two years in federal prison and fines up to $10,000.
For more information on the campaign, visit ProtectSmallBusiness.org.
