During a congressional hearing on the Corporate Transparency Act, Treasury Secretary Scott Bessent faced intense questioning from Representative Joyce Beatty about scaling back beneficial ownership reporting requirements, with Beatty challenging how the administration could combat transnational crime while reducing enforcement of transparency measures designed to uncover anonymous shell companies used for money laundering and hiding illicit funds.
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Could Criminals Exploit This Loophole? Bessent Faces Intense Hearing Scrutiny.
Added:As a member of the United States Congress addressing the secretary, I am asking you to rule on asking this hostile witness to direct his response to me versus having him tell me that his staff will respond to me. My staff person didn't ask them the question. I did.
>> The gentlewoman does not state a parliamentary inquiry.
>> So let me ask the point of privilege to you, Mr. Chairman, cuz I'm not going to stop this this morning until you respond to me then. If you will direct the secretary to respond to me as a member of Congress.
Or let me ask him >> It's not a point of privilege. The gentlewoman's time The gentlewoman's time has expired. The gentlewoman will suspend.
>> to me?
>> The gentlewoman The gentlewoman will The gentlewoman will suspend. The gentlewoman will suspend.
The gentlewoman will suspend.
>> if he will respond if he will respond if he will respond if he will respond to me.
>> makes a legitimate point.
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