Requiring Excise for Migrant Income Transfers Act” or the “REMIT Act.

[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [H.R. 5595 Introduced in House (IH)] <DOC> 119th CONGRESS 1st Session H. R. 5595 To amend the Internal Revenue Code of 1986 to modify the tax on remittance transfers. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES September 26, 2025 Mr. McGuire introduced the following bill; which was referred to the Committee on Ways and Means _______________________________________________________________________ A BILL To amend the Internal Revenue Code of 1986 to modify the tax on remittance transfers. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Requiring Excise for Migrant Income Transfers Act'' or the ``REMIT Act.'' SEC. 2. MODIFICATION OF TAX ON REMITTANCE TRANSFERS. (a) Increase in Rate of Tax.--Section 4475(a) of the Internal Revenue Code of 1986 is amended by striking ``1 percent'' and inserting ``15 percent''. (b) Exception for Remittance Transfers Sent by Citizens and Nationals of the United States Through Certain Providers.--Section 4475 of such Code is amended by redesignating subsections (d) through (f) as subsections (e) through (g), respectively, and by inserting after subsection (b) the following new subsection: ``(c) Exception for Remittance Transfers Sent by Citizens and Nationals of the United States Through Certain Providers.-- ``(1) In general.--Subsection (a) shall not apply to any remittance transfer with respect to which the remittance transfer provider is a qualified remittance transfer provider and the sender is a verified United States sender. ``(2) Qualified remittance transfer provider.--For purposes of this subsection, the term `qualified remittance transfer provider' means any remittance transfer provider which enters into a written agreement with the Secretary pursuant to which such provider