Proposed US Bill to charge 2% tax on remittances sent from the United States

                        (Sourced Photo)

By: Contributor

Baltimore, Maryland –  A Republican congressman, (Mike Rogers) is proposing an amendment to the US Electronic Fund Transfer Act to impose a fee for remittance transfers to Latin America and the Caribbean.   

The proposed bill, (H.R. 1813 – Border Wall Funding Act of 2017) would levy a 2% tax on remittances sent from the US to St. Kitts and Nevis and all other CARICOM and Latin American countries, (only CARICOM and Latin America are listed). 

The bill is designed to pay for the border wall between Mexico and the US as promised by President Trump. 

The Bill ‘IF’ passed, can serve a major blow to the level of remittances sent to the region. 

The bill as proposed only lists the Caribbean and Latin America as the countries that would be levied for such a tax. Absent from the list are European, African and Asian Countries.

Click for ​Proposed Bill

*This article was posted in its entirety as received by SKN PULSE.  This media house does not correct any spelling or grammatical errors within press releases and (or) commentaries. The views contained within are not necessarily those of SKN PULSE.