The Administration commends the bipartisan work undertaken to develop H.R. 2513, the Corporate Transparency Act of 2019. This legislation would require corporations and limited liability companies in the United States to disclose their beneficial owners, a measure that will help prevent malign actors from leveraging anonymity to exploit these entities for criminal gain. It would also assist law enforcement in detecting and preventing illicit activity such as terrorist financing and money laundering... For these reasons, the Administration believes this legislation represents important progress in strengthening national security, supporting law enforcement, and clarifying regulatory requirements.