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New Fee on International Money Transfers for Border Security

This bill introduces a new 5% fee on money transfers sent outside the United States. The collected funds will support a trust fund dedicated to enhancing border security. US citizens will be able to reclaim this fee through a tax credit.
Key points
A 5% fee will be imposed on money transfers sent outside the U.S., paid by the sender.
Collected fees will go into a Border Enforcement Trust Fund to finance additional border agents, barriers, and detention facilities.
U.S. citizens can claim a refundable income tax credit for the fees paid.
Evading the fee can lead to significant financial penalties or imprisonment.
Foreign countries aiding fee evasion may lose foreign assistance and visa waiver program participation.
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Expired
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Additional Information
Print number: 117_HR_8566
Sponsor: Rep. Hern, Kevin [R-OK-1]
Process start date: 2022-07-28
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

To impose a fee on certain remittance transfers to fund border security.

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_8566.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2022-07-28.

What are the main provisions?

Key points include:

  • A 5% fee will be imposed on money transfers sent outside the U.S., paid by the sender.
  • Collected fees will go into a Border Enforcement Trust Fund to finance additional border agents, barriers, and detention facilities.
  • U.S. citizens can claim a refundable income tax credit for the fees paid.
  • Evading the fee can lead to significant financial penalties or imprisonment.
  • Foreign countries aiding fee evasion may lose foreign assistance and visa waiver program participation.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Hern, Kevin [R-OK-1].

What is the latest detailed status?

The latest detailed status is: Referred to the Subcommittee on Immigration and Citizenship.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-28.

CATEGORIES

Taxes Security Migration