| Speaker | Time | Text |
|---|---|---|
|
unidentified
|
Earlier this year, the Trump administration changed a rule that would have required every business with only and only businesses with 20 or fewer employees to register their quote-unquote beneficial owners with the Financial Crimes Enforcement Network. | |
| And if they didn't do it by a certain date, they'd have to go to jail for two years or get up to $10,000 in fine. | ||
| So that was a really scary thing for small businesses. | ||
| The whole idea was to root out money laundering. | ||
| But they were going to require 32 million small LLCs to have to do this reporting, which was very burdensome and it was a lifetime commitment. | ||
| The Trump administration exempted American small businesses. | ||
| However, this is not permanent relief for American small businesses. | ||
| This is something that a new administration can change. | ||
| This is something that eventually might change in court. | ||
| So we're asking Congress to do permanent regulatory relief for small businesses to get rid of this beneficial ownership information reporting. | ||
| Is that through a law, permanent regulatory relief, essentially pass the law? | ||
|
unidentified
|
Yeah, there is legislation out there from Congressman Davidson and Senator Tuberville to repeal what was called the Corporate Transparency Act, which established this regulation. | |
| You can read more about it at nfib.com. | ||
| Jeff Brabant is a vice president at the National Federation of Independent Business. | ||
| On X, it's easy to find at NFIB. | ||
| Thanks so much for your time. | ||
|
unidentified
|
Thanks, John. | |
| A conversation now on the Trump administration's new travel restrictions affecting individuals from 19 different countries. | ||
| Muzaffar Chishti joins us for this conversation. | ||
| He's a senior fellow at the Migration Policy Institute, a think tank here in Washington. | ||
| Mr. Chishti, good morning to you, sir. | ||
|
unidentified
|
Good morning to you, too. | |
| The latest actions from the Trump administration, a so-called travel ban. | ||
| What's your 30,000-foot view of not just the ban itself, but the countries that are being targeted by the more complete ban and the restrictions as well? | ||
| Well, this is an iteration of the travel bans that the Trump administration introduced in the first term of that presidency, which was finally at the end upheld by our Supreme Court. | ||
| So these are countries mostly in the Middle East and in Africa, with the few exceptions of Myanmar in Asia and Venezuela in the Western Hemisphere. | ||
| It's clearly designed to overcome the objections that the Supreme Court had initially felt about the travel bans last time. | ||
|
unidentified
|
So to me, this is a narrower ban and probably legally will pass the muster. | |
| I want to dive into what that means, what a narrow ban means. | ||
| But first, about two minutes from Donald Trump last week announcing this latest round of restrictions and explaining why he thinks they're necessary. | ||
| The recent terror attack in Boulder, Colorado has underscored the extreme dangers posed to our country by the entry of foreign nationals who are not properly vetted, as well as those who come here as temporary visitors and overstay their visas. | ||
| We don't want them. | ||
| In the 21st century, we've seen one terror attack after another carried out by foreign visa overstayers from dangerous places all over the world. | ||
| And thanks to Biden's open door policies, today there are millions and millions of these illegals who should not be in our country. | ||
| In my first term, my powerful travel restrictions were one of our most successful policies, and they were a key part of preventing major foreign terror attacks on American soil. | ||
| We will not let what happened in Europe happen to America. | ||
| That's why on my first day back in office, I directed the Secretary of State to perform a security review of high-risk regions and make recommendations for where restrictions should be imposed. | ||
| Among the national security threats, their analysis considered are the large-scale presence of terrorists, failure to cooperate on visa security, inability to verify travelers' identities, inadequate record-keeping of criminal histories, and persistently high rates of illegal visa overstays, and other things. | ||
| Very simply, we cannot have open migration from any country where we cannot safely and reliably vet and screen those who seek to enter the United States. | ||
| That is why today I am signing a new executive order placing travel restrictions on countries including Yemen, Somalia, Haiti, Libya, and numerous others. | ||
| The strength of the restrictions we're applying depends on the severity of the threat posed. |