Border Security Investment Act
Border Security Investment Act
Plain Language Summary
# Border Security Investment Act Summary **What It Would Do:** This bill would impose a 37% fee on electronic money transfers (remittances) sent to certain foreign countries to fund border security. The fee would apply to transfers going to the five countries with the most citizens who illegally entered the U.S. in the previous year. Half of the collected fees would go to a trust fund reimbursing border states for their security expenses, while the other half would fund border technology, physical barriers, and Border Patrol salaries. **Who It Affects:** The bill primarily affects individuals and families who send money to relatives in countries with high rates of undocumented immigration to the U.S., as they would pay the 37% fee on those transfers.
Border states (like Texas, Arizona, California, and New Mexico) would potentially benefit through reimbursements for border security costs. U.S. Customs and Border Protection would determine which countries qualify for the fee each year based on enforcement data. **Current Status:** The bill is currently in committee and has not yet been voted on by the full House of Representatives. It was introduced by Representative Nathaniel Moran (R-TX) in the 119th Congress.
CRS Official Summary
Border Security Investment ActThis bill imposes a fee on the electronic transfer of funds (i.e., remittances) sent to certain countries and provides funding for border security activities from the collected amounts.Specifically, the fee shall apply to remittances sent through money services business to one of the five countries that had the most citizens or nationals unlawfully enter the United States in the previous fiscal year, as determined by U.S. Customs and Border Protection. The fee must be 37% of the amount sent.Half of the money collected by the fee must be placed in a trust fund for reimbursing border states for expenses incurred for border security enforcement measures. The other half must be placed in another trust fund for (1) deploying technology and installing physical barriers along the U.S.-Mexico border, and (2) paying the wages and salaries of U.S. Border Patrol agents.If the amount in the trust funds exceeds a certain threshold, the excess money must be used only for deficit reduction.
Latest Action
Referred to the Subcommittee on Border Security and Enforcement.