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

Biden Says He’ll Introduce Immigration Bill ‘Immediately’

Victor Landa January 11, 2021

President-elect Joe Biden says he’ll introduce immigration legislation “immediately” after taking office later this month, and that his Justice Department will investigate the Trump administration’s separation of migrant children from […]

Here Are All Of the Latinos Set to Serve in Joe Biden’s Incoming Administration So Far

Victor Landa January 5, 2021

President Elect Joe Biden’s inauguration is just days away and the entire country is buzzing with the prospect of change. Joe Biden ran his campaign on a message of unity […]

When COVID Info Doesn’t Reach Everyone, These Trusted Messengers Step Up To Help In Hard-Hit Latino Communities

Victor Landa

A silver van pulls up to a coronavirus testing site in the parking lot of La Familia, a daycare and family services center in Fort Collins. Cristina Diaz and her […]

Latino Voter Outreach Strong Ahead of Georgia Runoff Elections

Victor Landa

A new year is finally here, but for Gigi Pedraza, executive director of the Latino Community Fund in Georgia, the 2020 election season is still going strong. The nonpartisan organization, […]

Advocates worry vaccines will be out of reach for Black and Hispanic neighborhoods devastated by COVID-19

Victor Landa January 11, 2021

COVID-19 has been disproportionately deadly for communities of color in Texas. And advocates for those communities are worried that they will have more trouble accessing vaccinations than the white population […]

Job Losses in 2020 Were Worst Since 1939, With Latinos, Blacks, Teenagers Among Hardest Hit

Victor Landa

December capped the worst year for U.S. job losses in records tracing back to 1939, with Hispanics, Blacks, teenagers and high-school dropouts hit particularly hard. In 2020, the economy shed […]

The US economic recovery is skipping Latina and Black women

Victor Landa January 12, 2021

The American economy is slowly recovering, but Black and Hispanic women are being left behind. The latest data show the US unemployment rate stayed steady at 6.7% for the month […]

A united Hispanic Caucus supports articles of impeachment against Donald Trump

Victor Landa

All 34 members of the Congressional Hispanic Caucus have unanimously agreed to support impeachment, calling for the immediate removal of President Donald Trump, now in his final days of office. […]