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Hoyer Statement on House Passage of the Corporate Transparency Act

WASHINGTON, DC - House Majority Leader Steny H. Hoyer (MD) released the following statement today after the House passed the Corporate Transparency Act: 

“I was proud to bring Rep. Maloney’s Corporate Transparency Act to the Floor for a vote today in order to crack down on money laundering activities by Russian oligarchs and other bad actors.  By requiring companies to disclose their true owners, this bill will throw the disinfecting sunlight of transparency and accountability into the dark corners of the global economy, where money laundering is used to cover up a host of illicit actions, such as the financing of terrorism, cybercrime, election interference, corruption, the subversion of democratic institutions around the world, and human trafficking.  I am glad that the House passed this legislation, which is part of a package of bills on the Floor this week aimed at countering Russian dark money and safeguarding our democracy.”