Internet Radio

US considers fee on money-transfers to Guyana, other countries to help fund Trump’s border wall

Mike Rogers

United States-based Guyanese could soon be asked to pay more to send their relatives and friends a ‘small piece’ or a ‘frek’ if a Bill is passed to impose a two percent tax on all remittances sent to Guyana and several other countries to help fund the construction of a US-Mexico border wall.

Introduced to the House of Representatives on March 30, 2017, the Border Wall Funding Act seeks to amend the Electronic Fund Transfer Act to impose a fee for remittance transfers to certain foreign countries, and for other purposes. The US-Mexico wall, a major campaign promise by American President Donald Trump to keep out illegal aliens and other undesirables from entering the US,  is estimated to cost US$21.6 billion

“If the designated recipient of a remittance transfer is located in a foreign country described in subparagraph (B), a remittance transfer provider shall collect from the sender of such remittance transfer a remittance fee equal to 2 percent of the United States dollar amount to be transferred (excluding any fees or other charges imposed by the remittance transfer provider),” states the Bill that was referred on April 21, 2017 to the Subcommittee on Crime, Terrorism, Homeland Security, and Investigations, the House Judiciary Subcommittee on Immigration and Border Security, and the House’s Committees on Financial Services, Foreign Affairs and Judiciary.

The law is expected to have a five-year life-span during which the monies will be submitted to the US Treasury “to be expended for the purpose of improving border security.”

The Bureau, in consultation with the Secretary of Homeland Security, the Secretary of the Treasury, and remittance transfer providers,  have until September 30, 2017 to develop and make available a system for remittance transfer providers.

The Bill allows for remittance transfer providers to retain up to five percent of any remittance fees collected to cover the costs of collecting and submitting such remittance fees.

Sponsored by Republican Mike D. Rogers and co-sponsored by eight other Republican law makers, the draft law envisages stiff penalties against remittance evaders and the transfer of the tax to the recipient in Guyana and other listed countries or requests or facilitates such remittance transfer to a designated recipient in a country that is not listed  could be fined not more than US$500,000 or twice the value of the funds involved in the remittance transfer, whichever is greater, or imprisonment for not more than 20 years, or both.

The Border Wall Act states that any foreign country in the joint determination of the Secretary of Homeland Security, the Secretary of the Treasury, and the Secretary of State aids or harbors an individual conspiring to avoid the fee collected “shall be ineligible to receive foreign assistance and to participate in the visa waiver program or any other programs, at the discretion of the Secretaries.”

The payment of the two-percent transfer fee shall apply to  monies being sent to recipients in Mexico, Guatemala, Belize, Cuba, the Cayman Islands, Haiti, the Dominican Republic, the Bahamas, Turks and Caicos, Jamaica, El Salvador, Honduras, Nicaragua, Costa Rica, Panama, Colombia, Venezuela, Aruba, Curacao, the British Virgin Islands, Anguilla, Antigua and Barbuda, Saint Kitts and Nevis, Montserrat, Guadeloupe, Dominica, Martinique, Saint Lucia, Saint Vincent and the Grenadines, Barbados, Grenada, Guyana, Suriname, French Guiana, Ecuador, Peru, Brazil, Bolivia, Chile, Paraguay, Uruguay, or Argentina.

  • rs dasai

    Great idea.

    • Col123

      bad idea.. you don’t need a wall…the solution is simple on illegal immigration… Huge monetary penalty or confiscate the assets of anyone hiring illegal aliens…. problem solved.

      • rs dasai

        Col
        Remember, The USA gvt also hires ‘illegals’. So who will confiscate what ?

        • Col123

          Playing with lingo RS..the Trumpy folks have a bad taste for non Caucasoids..

    • Emile_Mervin

      It will only be a great idea if the taxed remittances are claimed on annual tax returns filed by citizens and legal residents in America. This way, remitters can get back something on their expenditure. All countries listed above should also impose a 2% tax on anything Amercan, including American tourists.

      As for the wall itself, which is a symbol of America imprisoning its people while trying to keep others out, it is as stupid as the proponent, who is so filled with hate and ignorance he can’t think about anything without conning others. Watch who will get the contract to build the so called wall of hate.

      • Col123

        EM.. totally agree with your comments. In fact, those listed countries should impose double tax on anything US…. but hey, some of these same migrants voted for that dump…

        • SYL

          Have you ever consider the consequence of a fight between an elephant and a rat? I suggest you gentlemen propose ideas to fix the Guyana ” banana republic ” mentality before even considering comments on the USA politics and economics.FIX THE RAT RACE.

          • Col123

            Good point bro.. why do you believe Guyana needs fixing?..the majority 51 % is enjoying the good life as I struggle days in and out to score under par…

  • lenshaw

    They love to hire illegals,because they can work them cheap

  • rollonrolloff

    All who harbor and the employer who hire illegal imigrant in the country let them pay a hefty fine with tax for everyone employ by the company also fine the illegal imigrant ,many of are coming with holiday visa working and staying every other countries pass illegal imigrant trough the court with fine and jail time ,

  • trevor

    This is discrimination against countries that have nothing to do with the wall. Why did he not say 2 on foreign remittances. Again his prejudices are loud and clear. It is against non whites, as most of the countries are in the Latin America and the Caribbean.

    • Col123

      What discrimination… they voted for Dumpy!…some 29 %

  • Col123

    So what is that to you?.. Mo welfare a come with oil… who wants to work?

  • jp

    Apparently you don’t understand legal an illegal immigrant all pay tax in this country so mr. Dumbo get your facts correct when you decided to reply get it correct this country was found on immigrant Blood Sweat and Tears legal and illegal all immigrant everyone in this country period tax paying money transfer so when you going to sell legal immigrant you’re just ignorant mr. Dumbo