New Foreign Transfer Fees for Border Security Funding.
This act introduces a new 37% fee on money transfers sent to countries with the highest number of illegal entries into the U.S. The collected funds will be used to enhance border security, including technology, physical barriers, and Border Patrol agent salaries, as well as to reimburse border states for their security efforts.
Key points
Imposes a 37% fee on money transfers to the top five countries with the most unlawful entries into the U.S.
Establishes two trust funds: one for reimbursing border states and another for direct border security measures.
Funds will be used for detection technology, physical barriers, and Border Patrol agent wages.
Excess funds over $50 billion will be dedicated to deficit reduction.
Status:
Introduced
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