Small Business Majority Supports the ILLICIT CASH Act

Thursday, December 5, 2019

Small Business Majority submitted a letter of support to the Senate Committee on Banking, Housing, and Urban Affairs on S. 2563, the ILLICIT CASH Act, which would protect small businesses from the myriad ways in which anonymous companies undermine legitimate small business owners. Currently, shell companies with hidden owners put small businesses at a disadvantage by unfairly competing for contracts, undermining supply chains, creating difficulties in finding responsible subcontractors and providing cover for fraudsters.