WASHINGTON, D.C. (June 30, 2026) – The National Federation of Independent Business (NFIB), the nation’s leading small business advocacy organization, expressed disappointment in the failure to adopt an amendment to the National Defense Authorization Act for Fiscal Year 2027 (NDAA’27) to exempt American small businesses from the beneficial ownership information (BOI) reporting mandate.

On Monday, NFIB led more than 60 industry advocacy organizations in sending a letter to U.S. Senate Majority Leader John Thune (R-S.D.) and U.S. Speaker of the House Mike Johnson (R-La.) urging Congress to lock in $128 billion of regulatory savings by adopting an amendment to must-pass legislation like the NDAA’27 to fully repeal BOI and protect more than 32 million small businesses from this invasive regulation returning in the future.

“The Trump Administration’s March 2025 decision to exempt more than 32 million American businesses from the BOI reporting mandate eliminated more than $128 billion in regulatory costs and compliance burdens for small businesses,” said Josh McLeod, NFIB Director of Federal Government Relations. “We are disappointed that the U.S. House of Representatives did not advance legislation to permanently lock in these historic regulatory savings in this year’s NDAA despite the amendment’s broad support, including repeal legislation with nearly 200 House cosponsors, more than 30 Senate cosponsors, and a strong industry coalition representing millions of American businesses. Small businesses remain concerned that a future Administration could reimpose this costly mandate and its severe penalties, making it critical for Congress to provide lasting certainty by fully repealing BOI and locking in the President’s largest regulatory savings achievement of 2025.”

Read the full letter and view participating industry advocacy organizations here.

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For over 80 years, NFIB has been advocating on behalf of America’s small and independent business owners, both in Washington, D.C., and in all 50 state capitals. NFIB is nonprofit, nonpartisan, and member-driven. Since our founding in 1943, NFIB has been exclusively dedicated to small and independent businesses, and remains so today. For more information, please visit nfib.com.