Congresswoman Beatty Questions Treasury Secretary Besson on BOI Rule and Harriet Tubman Bill

Concerns Over BOI Reporting Rule Enforcement

• 🎯 Congresswoman Beatty questioned Treasury Secretary Besson regarding the enforcement of the BOI reporting rule and the Corporate Transparency Act (CTA).
• ⚠️ She expressed confusion about the department's decision not to enforce penalties for BOI reporting and CTA against US citizens, domestic reporting companies, or their beneficial owners.
• 🔍 Beatty argued this decision undermines the bipartisan CTA and creates loopholes for illicit actors like drug cartels and terrorist organizations to register companies in the US without ownership transparency.
• 💰 The Secretary clarified that the CTA program was bifurcated, with foreign entities still required to file, while domestic entities are exempt.

Harriet Tubman $20 Bill Status

• 📌 Beatty inquired about the current status of the project to feature Harriet Tubman on the $20 bill, announced in 2016.
• ❓ Secretary Besson stated he could not provide an immediate answer and that his staff would follow up.
• 🗣️ Beatty expressed frustration, suggesting potential issues when projects affect people of color or those in poverty.

Congressional Decorum and Procedure

• ⚖️ The hearing experienced disruptions, with the Chairman repeatedly calling for decorum and for Congresswoman Beatty to suspend her remarks as her time expired.
• 🗣️ Beatty insisted on receiving direct answers from the Secretary, rather than relying on staff responses, and questioned the process when her time was up.
• 🚫 The Chairman ultimately stated that Beatty could submit QFRs (Questions for the Record) for the Secretary to respond to.