John McGuire (R-VA)
Requiring Excise for Migrant Income Transfers Act” or the “REMIT Act.
A Republican bill with 1 Republican cosponsor · See the cosponsor
Last activity — Referred to the House Committee on Ways and Means.
In committee
Introduced and handed to a committee in the chamber it started in.
The committee holds it, and most bills are never heard from again. A hearing or a committee vote would be news; silence is the usual outcome, and it kills the bill without anyone voting against it.
Its path through Congress
- Introduced
- In Committee
What this bill would do
This bill, known as the "REMIT Act," aims to modify the tax on remittance transfers by significantly increasing the rate. It raises the tax rate from 1 percent to 15 percent under the Internal Revenue Code. To mitigate this, the bill creates an exception for transfers sent by verified United States citizens or nationals through qualified providers. Additionally, it establishes a new refundable income tax credit that allows citizens and nationals to recover the excise tax paid on these transfers. The legislation also introduces new reporting requirements for remittance transfer providers.
Yes· 3 of 4
- Scored +1
Would high-income households be better off under this?
The bill provides a mechanism for US citizens and nationals to recover the tax via a refundable credit.
- Scored +1
Does this make what the government does easier for the public to see?
The bill implements new reporting and return requirements for remittance transfer providers.
- Scored +1
Does this tighten control of the border?
The bill targets money transfers often associated with migration through increased excise taxes.
The opposite· 3 of 6
- Scored -4
Would immigrants be better off under this?
The bill increases the tax burden on remittances, which are often sent by or to immigrant communities.
- Scored -3
Would households on low incomes be better off under this?
The bill imposes a significant tax increase on remittance transfers that may affect lower-income senders.
- Scored -3
Would Hispanic Americans be better off under this?
The increased tax on remittances may disproportionately affect Hispanic American households that send money abroad.
Who it would affect, and how
Potential Positive Impacts for People
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Tax Relief for Citizens and Nationals: Individuals who are citizens or nationals of the United States can receive a refundable income tax credit equal to the aggregate amount of taxes paid on their remittance transfers (Section 2(c)(1)).
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Exemption from Increased Tax Rates: The 15 percent tax rate will not apply to remittance transfers if the sender is a verified United States citizen or national and uses a qualified remittance transfer provider (Section 2(b)(1)).
Potential Negative Impacts for People
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Significant Tax Increase: The tax rate on remittance transfers is increased from 1 percent to 15 percent (Section 2(a)).
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Strict Requirements for Tax Credits: To claim the tax credit, individuals must provide their social security number and, if married, their spouse's social security number (Section 2(c)(1)(b)(1)).
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Burdensome Documentation for Credits: Taxpayers must demonstrate to the satisfaction of the Secretary that the tax was paid and that they provided specific certification and information to the remittance transfer provider (Section 2(c)(1)(c)).
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New Compliance Obligations for Providers: Remittance transfer providers are now required to make specific returns and furnish written statements to individuals regarding the tax information (Section 2(d)(1)).
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Tap or hover a score for the reason it gave.
- Demographic And Interest Groups
- Would high-income households be better off under this? — The bill provides a mechanism for US citizens and nationals to recover the tax via a refundable credit. Would immigrants be better off under this? — The bill increases the tax burden on remittances, which are often sent by or to immigrant communities. Would Hispanic Americans be better off under this? — The increased tax on remittances may disproportionately affect Hispanic American households that send money abroad. Would households on low incomes be better off under this? — The bill imposes a significant tax increase on remittance transfers that may affect lower-income senders.
- Governance And Ideology
- Does this make what the government does easier for the public to see? — The bill implements new reporting and return requirements for remittance transfer providers. Does this protect people from being watched or searched? — The bill requires the collection and reporting of sensitive information like social security numbers for tax credits.
- Social Issues And Justice
- Does this tighten control of the border? — The bill targets money transfers often associated with migration through increased excise taxes. Is this likely to lift people out of poverty? — The increased tax on remittances may reduce the amount of money sent to support low-income families abroad.
- Economy And Finance
- Does this raise the taxes companies pay? — The bill increases compliance and reporting burdens for remittance transfer providers. Does this reduce what the federal government spends? — The bill increases government revenue through a higher excise tax on remittance transfers.
- 9/30/2025
- 1 Cosponsor added.
- 9/26/2025
- Referred to the House Committee on Ways and Means.
- Introduced in House
2 bills Congress.gov lists as related to this one — companions in the other chamber, earlier versions, and bills this one absorbed or was folded into.
Michael RulliRepublican · Ohio