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Remittance Fees for Border Security and State Reimbursement Funds

This act introduces a new 37% fee on money transfers sent to countries with the highest number of citizens unlawfully entering the U.S. Half of the collected funds will go to border states to cover security-related expenses, while the other half will be used to enhance border protection, including technology, physical barriers, and Border Patrol agent salaries. Citizens sending money abroad to specified countries may experience increased transaction costs.
Key points
Imposes a 37% fee on money transfers to the top five countries with the most citizens unlawfully entering the U.S.
Establishes two trust funds: one to reimburse border states for security costs, and another for federal border security measures (technology, barriers, agent wages).
Funds collected will be used for border security enforcement, including deterring unlawful crossings and gaining operational control of the southwest border.
The act takes effect on January 1, 2024.
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Additional Information
Border Security Investment Act
Print number: HR 672
Sponsor: Rep. Moran, Nathaniel [R-TX-1]
Process start date: 2023-01-31