Bill to Change the Remittance Transfer Tax

What This Bill Does

This bill would amend the Internal Revenue Code to modify the excise tax on remittance transfers, which are money transfers sent, often by immigrants and workers, to family members in other countries. It would change how that tax is applied or calculated.

Remittance taxes can affect the cost of sending money abroad, which matters to households that rely on cross-border transfers and to businesses that facilitate them. Changes to this tax can also influence how much money reaches families overseas and how much revenue the federal government collects.

Who This Bill Affects

For the general public, this bill would mainly matter to people who send money abroad or work in the remittance industry. If enacted, it could change the cost of those transfers and slightly affect federal tax policy.

Latest Status

May 21, 2026

Referred to the House Committee on Ways and Means.