Trump's remittance tax aims to slow illegal immigration by targeting the money flow

The Senate s version of the one big beautiful bill includes a tiny tax on international cash transfers called a remittance tax which according to experts will have a major impact on immigrants working in the U S A remittance is a money transfer to another country outside the U S which is a common practice among immigrant workers who send part of their wages back to family in their native countries Tens of billions of dollars in remittances are sent to other countries from the U S every year Earlier versions of the bill included higher tax rates and specifically targeted illegal immigrants sending money outside the U S The current version of the big beautiful bill however imposes a fee only on cash transfers not electronic transfers sent to other countries U S citizens who want to send cash to other countries will also be subject to the tax The tax is expected to generate billion in extra revenue for the federal regime according to an estimate done by Politico TRUMP'S 'BIG BEAUTIFUL BILL' CLEARS FINAL HURDLE BEFORE HOUSE-WIDE VOTEBesides generating extra revenue Lora Ries director of the Dividing line Defense and Immigration Center at The Heritage Foundation stated Fox News Digital that the remittance tax has the feasible to discourage illegal immigration into the U S by making it harder to send money back home Illegal aliens generally want five things when coming to the U S to enter to remain here work send money home remittances and bring family and or have children here she explained Prevent those five things and you prevent illegal immigration and encourage self-deportation The administration has been pushing hard for illegal immigrants to self-deport incentivizing them by offering to front the cost of commercial flights and providing a stipend to those who opt to self-deport Ries revealed the remittance tax could be another effective strategy besides ICE raids that could help to crack down on illegal immigration into the country and reduce the number of illegal immigrants in the U S TRUMP TO BEGIN ENFORCING BIRTHRIGHT CITIZENSHIP ORDER AS EARLY AS THIS MONTH DOJ SAYSRies announced however that the requirements to be much higher to be effective A tax only on cash transfers does very little The tax should be much higher and cover all types of money transfers she disclosed Until now the U S regime has not touched the annual billions of dollars going out of the country not benefiting the U S business activity she went on Remittances should be taxed to discourage unauthorized employment and its earnings ELON MUSK'S ATTACKS ON TRUMP'S 'BIG BEAUTIFUL BILL' HAVE 'NO BASIS ' SAYS NO HOUSE REPUBLICANMeanwhile Ariel Ruiz Soto a senior framework analyst at the Migration Guidelines Institute informed Fox News Digital that though he believes the remittance tax will have a essential impact it may not be in the way the Trump administration hopes He argued that discouraging remittances to countries like El Salvador Guatemala and Honduras where such payments account for more than of the GDP could certainly drive more migration from those nations CLICK HERE TO GET THE FOX NEWS APP If you're Honduras if you're El Salvador and Guatemala even a tax if it decreases the remittances could authentically be a essential toll in the improvement of those countries he reported If the remains were indeed to decrease significantly that could potentially backfire on President Trump's agenda to reduce irregular migration because he could truly make circumstances economic circumstances in these countries more demanding and spur new irregular immigration in the future The House of Representatives is at present considering the Senate s version of the big beautiful bill