GOP suggests 2% fee for money transferred out of America by immigrants will pay for border wall. --->
House Republicans on Thursday introduced new legislation that would help fund President Donald Trump’s big, beautiful southern border wall by collecting a 2 percent tax on money sent out of the country by immigrants, The Washington Times reported on 3/30.
According to the Times’ article, immigrants send an estimated $130 billion dollars home a year. A 2 percent tax would equate to upwards of $2 billion a year collected, more than enough to fund the physical deterrent.
President Trump promised throughout the campaign trail last year to make Mexico pay for his proposed border wall, but politicians from America’s neighbor to the South have openly rejected his idea. However, Mexican leaders would likely view a small tax on money leaving the United States as a fair compromise.
“This bill is simple — anyone who sends their money to countries that benefit from our porous borders and illegal immigration should be responsible for providing some of the funds needed to complete the wall,” Rep. Mike Rogers, Alabama Republican, said in a statement. “This bill keeps money in the American economy, and most importantly, it creates a funding stream to build the wall.”
Mr. Rogers and Rep. Lou Barletta of Pennsylvania are leading the effort. The Washington Times
Expect leftist snowflakes at Silicon Valley to respond by promoting an alternative currency transfer program using Bitcoin that would likely be exempt from the GOP’s proposed tax.
Read the full story below:
(The Washington Times) A group of House Republicans on Thursday introduced the first major bill to fund President Trump’s border wall, saying the government could collect billions of dollars by imposing a 2 percent fee on all the money Mexicans and other immigrants send back home.
Estimates vary, but remittances from those in the U.S. to their relatives back home could top $130 billion a year. A 2 percent tax could net more than $2 billion a year if it applied to all money regardless of who’s sending it.