Tax

Senate version “One big, beautiful bill” Includes a tiny, 1% tax on international remittances – bells

Monetary transportation is the transfer of money to another country outside the United States, which is the usual practice among immigrants who send part of their salary back to family in their native countries. Tens of billions of dollars are sent to other countries from the US every year.

Earlier versions of the bill included higher tax rates and specially purposeful Illegal immigrants Sending money outside the United States is the current version of the “Big, Beautiful Bill”, however, imposes a fee for 1% only on remittances, not electronic transfers sent to other countries. US citizens who want to send cash to other countries will also be taxed by 1%.

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In addition to receiving additional revenue, Laura Rice, Director of the Security Center and Immigration Border Guard in the Heritage Fund, said Fox News Digital that the transfer tax may avoid illegal immigration In the US, burdening money home.

“Illegal foreigners usually want five things when they come to the US: enter, stay here, work, send money home (remittance) and bring family and/or have children here,” she explained. “Prevent these five things and you prevent illegal immigration and encourage self -deportation.”

The administration strongly pushes for illegal immigrants to dedication, stimulating them Offering contrary to the cost of commercial flights and to provide a $ 1,000 scholarship to those who choose dedication. Fig said that tax

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DHS held the first flight project, which conducted 64 illegal immigrants who decided to return to their countries on their own. (Internal Security Department)

The rice said, however, that 1% should be much higher to be effective.

“The 1% tax is very small only. The tax should be much higher and cover all types of remittances,” she said.

“Until now, the US government has not touched on the annual billions of dollars outside the country without benefiting the US economy,” she continued. “Monetary transfers must be taxed to interfere with unauthorized employment and their earnings.”

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A family of five years, claiming Guatemala and a man who claims he is from Peru, in a pink shirt, walks through the desert after crossing the border wall in the American Mexico Tucker sector, Tuesday, August 29, 2023, in the national monument of the Cactus near Lukeville. (Matt -York/AP)

Meanwhile, Ariel Ruiz Soto, Senior Analyst Politics at the Institute of Migration Policy, said Fox News Digital that though he believes the tax Trump administration Hope.

He claimed that it hindered the cash for countries such as Salvador Salvador, Guatemala and Honduras – where such payments make up more than 20% of GDP – can actually lead to greater migration from these countries.

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“If you are Honduras, if you are El Salvador and Guatemala, even a 1%tax, if it reduces money transfers, can actually become significant in the development of these countries,” he said. “If the remnants actually declined significantly, it could potentially arise on the agenda of President Trump on reducing irregular migration, as it could actually make the circumstances, economic circumstances in these countries more difficult and push new irregular immigration in the future.”

Currently, the House of Representatives is considering the version of the Senate “Big, Beautiful Bill”.