Judge Blocks Biden Administration Rule Requiring Small Businesses to Report to Government
• Federal judge rules Biden administration's small business reporting requirement unconstitutional • Judge decides Corporate Transparency Act exceeds Congress' powers, makes rulemaking under it unlawful • National Small Business Association sued to block requirement for small businesses to register with government • Group argued reporting rule violates Constitution, unduly burdensome, infringes privacy and states' powers • Ruling seen as blow to Biden admin effort to increase corporate transparency, combat financial crime