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Steve Bannon talks with Peter Mcilvenna about government overreach with the Corporate Transparency Act. 12/14/2024

War Room founder Steve Bannon talked with “Hearts of Oak” co-founder and The Gateway Pundit contributor Peter Mcilvenna on Saturday about government overreach regarding the Corporate Transparency Act.

Bannon asked Mcilvenna to explain what the Corporate Transparency Act involved and how it would affect business owners.

“This is massive Federal Government overreach,” Mcilvenna said.

“The most aggressive domestic spy program since the Patriot Act, and what it is, vetoed by President Trump, President Trump saw this for what it was, and it was, he vetoed it, it was part of the Nation Defense Authorization Act in 2019. He vetoed it because he saw the danger to small businesses. And Capitol Hill pushed it through the next month,” Mcilvenna said.

“So, they passed this Corporate Transparency Act demanding you pass over all of your information and register it on a brand new database,” Mcilvenna continued.

“Is this something that is actually a law, and they are enforcing it, or is it something they are proposing to get through in the final days of this lame duck?” Bannon asked.

“This is a law, and every business owner must sign up for this.” Mcilvenna said.

“If you don’t register by the first of January on this database, then you will be hit. You can be hit by fines of up to two years in jail and $591 a day, I think it is. But just last week a Texas court ruled this was Unconstitutional and has completely stopped this, but the battle is not over,” Mcilvenna continued.

Mcilvenna commented that Biden’s intention was to use this legislation to target business owners who have conservative ideals.

“This is a preliminary injunction; it is not the final ruling. So, it is a stay of execution and of course Biden is going to do all he can do to push this through before the 1st of January. And my concern is that what happens is this an attack on conservative companies?” Mcilvenna warned.

“It’s no role of the Federal Government for you to pass your details on of your company that you’ve registered at the State level,” Mcilvenna said.

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