The new GOP tax bill proposes a 5% tax on international money transfers sent by non-citizens from the US.

[1srelluc]

House Republicans’ Remittance Tax Is Going Up Against the Money Transfer Industry

The sprawling tax package unveiled Monday includes an international money transfer tax opposed by financial service providers and supported by one of the bill’s biggest critics.

www.notus.org

House Republicans’ Remittance Tax Is Going Up Against the Money Transfer Industry​

The sprawling tax package unveiled Monday includes an international money transfer tax opposed by financial service providers and supported by one of the bill’s biggest critics.

House Republicans’ sweeping tax proposal includes a 5% tax on some international money transfers known as remittances, setting up a lobbying battle for the industry groups representing companies that carry out those transactions.

But even budget hawks who have issues with the bill have said they support a remittance tax targeting people who are in the U.S. illegally. And as Republicans clamor to find billions of dollars to cover tax and border priorities, removing the provision could be difficult for its opponents.

People working in the U.S. send tens of billions of dollars in remittances to friends, relatives or others in foreign countries each year, according to the World Bank. Trade groups representing companies that send money abroad sent a letter last week urging the Ways and Means Committee against including a remittance tax in the mega-bill.

Better yet.....Prove you're legally in the country. = 0%.

Can't prove it, can't transfer. Enforce it by fining the transfer agent and the transfer company.

When Chico's Bodega and Western Union start feeling consequences, things will change.

 

[the watcher]

I'm not sure how that it could be enforced, but a good idea.

 

[Seymour Flops]

I'm not sure how that it could be enforced, but a good idea.

Pretty easily, on paper, but of course the illegals and their padrones will sometimes find ways around it.

Drive around any area in which there is a large Hispanic population and you will see stores with signs saying "Envio de Dinero" which means "send money." That's where the new tax would be enforced.

As with any other tax, there will be those who find their way around it. Some will get caught, some will not. But lack of perfect enforcement is no reason to avoid passing a needed law.

 

[Cellblock2429]

I'm not sure how that it could be enforced, but a good idea.

/----/ The same way sales tax is enforced.

 

[wamose]

That's a pretty old idea and the fact that they haven't done anything for all these years leads me to believe that many of our so called representatives are for illegal aliens smuggling money out of our country. We need to reinstall "for the people" to our lawmaking process, but will we.

 

[Zafira Cherry]

/----/ The same way sales tax is enforced.

sales tax is not based on being in the country legally

 

[Cellblock2429]

sales tax is not based on being in the country legally

/----/ "sales tax is not based on being in the country legally"

YA dope, wire transfers are subject to sales tax. And, I was responding to The Watchers post: "I'm not sure how that it could be enforced, but a good idea."
non se·qui·tur
/ˌnän ˈsekwədər/
https://www.google.com/search?sca_e...2ahUKEwiWrM6v8qKNAxWgFFkFHWdNBxEQ3eEDegQIIRAO
a conclusion or statement that does not logically follow from the previous argument or statement.

 

[Zafira Cherry]

House Republicans’ Remittance Tax Is Going Up Against the Money Transfer Industry

The sprawling tax package unveiled Monday includes an international money transfer tax opposed by financial service providers and supported by one of the bill’s biggest critics.

www.notus.org

House Republicans’ Remittance Tax Is Going Up Against the Money Transfer Industry​

The sprawling tax package unveiled Monday includes an international money transfer tax opposed by financial service providers and supported by one of the bill’s biggest critics.

House Republicans’ sweeping tax proposal includes a 5% tax on some international money transfers known as remittances, setting up a lobbying battle for the industry groups representing companies that carry out those transactions.

But even budget hawks who have issues with the bill have said they support a remittance tax targeting people who are in the U.S. illegally. And as Republicans clamor to find billions of dollars to cover tax and border priorities, removing the provision could be difficult for its opponents.

People working in the U.S. send tens of billions of dollars in remittances to friends, relatives or others in foreign countries each year, according to the World Bank. Trade groups representing companies that send money abroad sent a letter last week urging the Ways and Means Committee against including a remittance tax in the mega-bill.

Better yet.....Prove you're legally in the country. = 0%.

Can't prove it, can't transfer. Enforce it by fining the transfer agent and the transfer company.

When Chico's Bodega and Western Union start feeling consequences, things will change.

I like the idea.
5% regardless. No "proving" No chance for a third party to profit from this

 

[1srelluc]

That's a pretty old idea and the fact that they haven't done anything for all these years leads me to believe that many of our so called representatives are for illegal aliens smuggling money out of our country. We need to reinstall "for the people" to our lawmaking process, but will we.

I suspect that's why the tax is not higher. Shit-hole countries run on those remittances.

 

[Zafira Cherry]

/----/ "sales tax is not based on being in the country legally"

YA dope, wire transfers are subject to sales tax. And, I was responding to The Watchers post: "I'm not sure how that it could be enforced, but a good idea."
non se·qui·tur
/ˌnän ˈsekwədər/
Google Search
a conclusion or statement that does not logically follow from the previous argument or statement.

.. you said "Better yet.....Prove you're legally in the country. = 0%."
once again, DOPE... "sales tax is not based on being in the country legally"

 

[Cellblock2429]

I suspect that's why the tax is not higher. Shit-hole countries run on those remittances.

/---/ I suspect the receiving country charges a hefty fee for international incoming wire transfers. Mexico doesn't charge a fee but "Remittances may be subject to income tax (ISR) according to what the SAT establishes." - DolarApp
I'm not sure about other countries.

 

[shockedcanadian]

3.5% Is clearly too low. If you want to keep money in the U.S you have to charge more than 3.5%. It appears the aggressive comments by Mexicos President has encouraged this new Bill which would bump the cost to 15%.

She is also going to be attending the G7 next week. Trump is not going to be gentle in any conversations they have since she is encouraging Mexicans illegally in America to protest.

Why would she be speaking out in support of illegal immigrants in America? Is she worried this tax will expose the source of money? Imagine if someone is sending millions. They will be investigated by the FBI if engaging in illegal crime for profit.

GOP lawmakers push to jack up proposed tax on money migrants send home after threat by Mexico

“If necessary, we’ll mobilize. We don’t want taxes on remittances from our fellow countrymen,” Mexican President Claudia Sheinbaum said last month.

nypost.com

GOP lawmakers are pushing to boost a proposed new tax on money that migrants earn in the US and send back home to family — after being threatened by Mexico’s president.


Nestled in the proposed One Big Beautiful Bill Act making its way through the Senate is a 3.5% tax on “remittances” from noncitizens in the US, or money transferred back to relatives and family in the migrants’ home country.


Over the weekend, footage of Mexican President Claudia Sheinbaum blasting the planned tax during a speech last month went viral.

“If necessary, we’ll mobilize. We don’t want taxes on remittances from our fellow countrymen. From the US to Mexico,” Sheinbaum warned in the clip.

 

[Independent thinker]

3.5% Is clearly too low. If you want to keep money in the U.S you have to charge more than 3.5%. It appears the aggressive comments by Mexicos PM has encouraged this new Bill which would bump the cost to 15%.

She is also going to be attending the G7 next week. Trump is not going to be gentle in any conversations they have since she is encouraging Mexicans illegally in America to protest.

Why would she be speaking out in support of illegal immigrants in America? Is she worried this tax will expose the source of money? Imagine if someone is sending millions. They will be investigated by the FBI if engaging in illegal crime for profit.

GOP lawmakers push to jack up proposed tax on money migrants send home after threat by Mexico

“If necessary, we’ll mobilize. We don’t want taxes on remittances from our fellow countrymen,” Mexican President Claudia Sheinbaum said last month.

nypost.com

GOP lawmakers are pushing to boost a proposed new tax on money that migrants earn in the US and send back home to family — after being threatened by Mexico’s president.


Nestled in the proposed One Big Beautiful Bill Act making its way through the Senate is a 3.5% tax on “remittances” from noncitizens in the US, or money transferred back to relatives and family in the migrants’ home country.


Over the weekend, footage of Mexican President Claudia Sheinbaum blasting the planned tax during a speech last month went viral.

“If necessary, we’ll mobilize. We don’t want taxes on remittances from our fellow countrymen. From the US to Mexico,” Sheinbaum warned in the clip.

Personally, I'm fine with 100%. Any figure less than that just encourages people to come here and somehow legitimizes the whole illegal thing.

 

[iamwhatiseem]

Not enough - there should be a payroll tax of 10% on any person who is not a citizen, and a 10% enforced tax on money in any bank on U.S. soil for non citizens.
Active students and those that went through legally and working on citizenship are exempt.

 

[initforme]

Employers who employ them should also be shut down. No fines, just shut down. No due process either.

 

[iamwhatiseem]

Employers who employ them should also be shut down. No fines, just shut down. No due process either.

Hmm - good point, there should be an additional 10% revenue tax on businesses who employ non citizens.

 

[rightwinger]

It is their money, let them do what they want with it

 

[shockedcanadian]

It is their money, let them do what they want with it

Well, they sure accepted your invitation to enter your nation illegally, might as well let them go all the way.

 

[iamwhatiseem]

It is their money, let them do what they want with it

After they pay taxes for having a job in our country

 

[pknopp]

The money comes from their employers. The riots in L.A. Started after ICE raided a Home Depot parking lot. These were not people dealing drugs but people waiting to get picked up to be taken to their construction jobs.