H.R. 8566 · 117th Congress
To impose a fee on certain remittance transfers to fund border security.
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Never voted on. It didn't reach a floor vote before the 117th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
HernSponsorNo cosponsors.
This bill imposes a 5% transfer fee on remittances sent to recipients outside of the United States, to be paid by the sender. The bill also establishes for U.S. citizens a tax credit equal to the amount that the citizen taxpayer paid in such transfer fees for any taxable year.
What it does: CRS summary · Introduced in House · Jul 28, 2022
This bill imposes a 5% transfer fee on remittances sent to recipients outside of the United States, to be paid by the sender. The bill also establishes for U.S. citizens a tax credit equal to the amount that the citizen taxpayer paid in such transfer fees for any taxable year.
The bill also provides funding for various border-related activities, such as to build a barrier along the U.S.-Mexico barrier. The funding shall be equal to the amount collected by the transfer fee minus the tax credits allowed.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: To impose a fee on certain remittance transfers to fund border security.
Latest action (Nov 1, 2022): Referred to the Subcommittee on Immigration and Citizenship.
Policy area: Immigration · Origin: House · Introduced: Jul 28, 2022
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.