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119-hr-445119th CongressWALLET

Border Security Investment Act

Sponsored By: Representative Moran, Nathaniel [R-TX-1]

In Committee

Summary

A 37% fee on remittances to the five countries with the most unlawful entries would fund two new border-security trust funds. The bill targets remittances sent through money services businesses and channels collected fees into Treasury trust funds that reimburse border states and pay for border barriers, technology, and Border Patrol pay.

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  • Families sending money: People who send remittances to a covered country would pay a fee equal to 37% of the amount sent. A "covered country" is one of the five countries identified by U.S. Customs and Border Protection as having the most citizens or nationals unlawfully entering the United States in the prior fiscal year.
  • Border states: States may submit receipts for the prior fiscal year's border enforcement spending and receive reimbursements from a Reimbursement Trust Fund. That fund receives 50% of the total remittance fees collected each year and may be invested in U.S. obligations.
  • Border operations and agents: The other 50% of fees goes to a Security Trust Fund to deploy detection technology, install physical barriers along the U.S.-Mexico border, and pay wages and salaries for U.S. Border Patrol agents. Amounts in both funds are available to the Department of Homeland Security without further appropriation.

*Requires any combined balances across the two trust funds above $50.0 billion to be rescinded to the Treasury general fund and used to reduce the deficit.*

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Bill Overview

Analyzed Economic Effects

2 provisions identified: 0 benefits, 1 costs, 1 mixed.

New border security trust funds

If enacted, the Treasury would create two border security trust funds funded by remittance fees. Starting in the fiscal year after enactment and each year after, the Treasury would transfer to the two funds an amount equal to 50% of total remittance fees collected under the referenced law in the prior fiscal year (split as specified by the bill). One fund would reimburse border States for qualifying border security expenditures if they submit receipts from the prior fiscal year; payments would be proportional to submitted receipts and available to DHS without further appropriation. The other fund would be available to DHS, without further appropriation, for border security items such as detection technology, southern border physical barriers, and Border Patrol wages. Funds would be invested in U.S. government obligations and earn interest. If the combined balances of both funds exceed $50 billion, any excess would be permanently rescinded to the Treasury general fund for deficit reduction.

Higher remittance fee for covered countries

If enacted, remittance providers that are money services businesses would have to charge a fee equal to 37% of each transfer to a covered country. A covered country would be one of the five countries with the most citizens or nationals unlawfully entering the United States in the prior fiscal year. Fees collected would be deposited in the U.S. Treasury general fund in the form and manner the Treasury Secretary sets by rule. This change would take effect no later than 30 days after enactment.

Sponsors & CoSponsors

Sponsor

Moran, Nathaniel [R-TX-1]

TX • R

Cosponsors

  • Rep. Ellzey, Jake [R-TX-6]

    TX • R

    Sponsored 1/15/2025

  • Rep. Self, Keith [R-TX-3]

    TX • R

    Sponsored 1/15/2025

  • Rep. Babin, Brian [R-TX-36]

    TX • R

    Sponsored 1/15/2025

  • Rep. Gooden, Lance [R-TX-5]

    TX • R

    Sponsored 1/15/2025

  • Rep. Nehls, Troy E. [R-TX-22]

    TX • R

    Sponsored 1/15/2025

  • Rep. Weber, Randy K. Sr. [R-TX-14]

    TX • R

    Sponsored 1/15/2025

  • Rep. Goldman, Craig A. [R-TX-12]

    TX • R

    Sponsored 2/5/2025

Roll Call Votes

No roll call votes available for this bill.

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