Columbia News

U.S. Senator Eric Schmitt of Missouri has introduced a new bill titled the Requiring Excise for Migrant Income Transfers (REMIT) Act. The proposed legislation aims to impose a 15 percent excise tax on remittances sent abroad.

Senator Schmitt stated, "America is not the world’s piggy bank. Each year, the U.S. sees tens of billions of dollars leave our country as foreign nationals wire money back to their nations of origin, siphoning wealth and resources directly from our economy." He further emphasized that remittances contribute significantly to the migration issues at the southern border.

The senator expressed his belief that this measure will prioritize American interests: "It’s time to put America first. By implementing a 15 percent tax on remittances, we will keep more money in the United States and put American workers in the driver’s seat once again."

Further details about the bill can be accessed through official channels.