A Proposed New Tax, Mainly On Latinos, To Pay For Trump’s Border Wall

*This happened yesterday, while the rest of us were mesmerized by the Peckinpahesque implosion of the Trump administration, congress was moving a piece of legislation that would fund the Trumpian border wall with a tax on the person-to-person wire transfers known as remittances. VL


NewsTaco MONEY WEDNESDAY

By Jason Beaubien, NPR (5 minute read) 

One of President Trump’s boldest, most ambitious proposals on the campaign trail was to build a wall along the Southern border and get Mexico to pay for it. Amid the tumult of Trump’s first few months in office, the border wall hasn’t gotten as much attention as some other things. But new legislation has been introduced in Congress to help fund it.

It’s called the Border Wall Funding Act of 2017, introduced on March 30 by Rep. Mike Rogers, R-Ala.

And it would put a 2 percent tax on all person-to-person wire transfers to Mexico, the rest of Latin America and the Caribbean.

It’s not the only bill targeting remittances. An earlier proposal in the Senate, which didn’t advance out of committee, would have placed a 7 percent “fine” on remittances unless the sender can prove he or she is in the U.S. legally.

It should be noted that these proposals would only apply to personal transfers and not to businesses moving money abroad to say, Mexico or the Cayman Islands.

Read more stories about Latino economy in NewsTaco. >> 

As you might expect, people who send remittances are not happy.

“I’ve already earned my money and paid taxes on it,” says Rafael Villalobos Jr., a community college administrator in eastern Washington state who regularly sends money to his parents in Mexico. “The whole thing with this administration is about not having to pay more taxes, yet I have to pay an extra tax on money that I’ve already earned when I give it to my parents just because they are coincidentally on the other side of the border.”

READ MORE 

Limitstogrowth

Subscribe today!

  • This field is for validation purposes and should be left unchanged.

Must Read

New Mexico Native James Borrego to Become First Latino Full-time NBA Head Coach

Victor Landa May 9, 2018

Spurs assistant coach James Borrego not only landed his first full-time head-coaching job on Tuesday, he made NBA history. The AP is reporting that Charlotte owner Michael Jordan has completed a […]

How One Woman Is Fighting To Get More Latino Movie Roles

Victor Landa

When casting director Carla Hool moved to Los Angeles from Mexico City in 2011, she found stereotypical Latino movie roles written without much depth: “The gardener, the immigrant who crossed the […]

Border congressman among highest funded by group running immigrant detention centers

Victor Landa June 22, 2018

U.S. Rep. Henry Cuellar, D-Laredo, has received $32,400 in political contributions from a company that operates immigrant detention centers — the second most of any elected official in the country […]

VOLUNTEERS NEEDED on massive scale to help reunite immigrant children with their families

Victor Landa July 9, 2018

This is an opportunity for experts on Latin America to get involved and lend their expertise. Please also share widely: URGENT HELP NEEDED ASAP!! Center for Human Rights and Constitutional […]

5 Women Who Are Mobilizing The Latino Community For The Midterm Elections

Victor Landa May 24, 2018

The midterm elections this year are a pivotal time for activation, regardless of what side of the aisle you stand on. The Latino vote particularly is being mobilized by some […]

Latinos And Others Find Trump Tweets Not Unusual

Victor Landa April 23, 2018

NPR’s Lulu Garcia-Navarro talks to Pilar Marrero, a writer at the Spanish language daily La Opinion in Los Angeles, about President Trump tweets attacking California’s sanctuary laws. LULU GARCIA-NAVARRO, HOST: This past […]

When Your 12-Year-Old Son Faces Little League Racism

Victor Landa April 30, 2018

As parents, we walk a fine line between solving our children’s problems and letting them struggle on their own, like when they’re faced with little league racism. My 12-year-old plays […]

Will The Latino Vote Tip Elections THIS Year?

Victor Landa May 29, 2018

In more than 20 years of Hispanic marketing, I’ve heard this line over and over: The Latino vote could tip the elections this year. It’s true the Latino vote has […]