# 119-hr-4586: AIDA

119-hr-4586, AIDA, is a 119th Congress bill sponsored by Rep. Cherfilus-McCormick, Sheila [D-FL-20] (D-FL); status introduced; PRIA reads it as touching household money (as of 2026-10-30).

- Canonical: https://policyrisk.com/legislation/119-hr-4586
- As of: 2026-10-30
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 119-hr-4586
- Congress: 119
- Title: AIDA
- Status: introduced
- Introduced: 2025-07-22
- Sponsor: Rep. Cherfilus-McCormick, Sheila [D-FL-20] (D-FL)
- Cosponsors: 5
- Policy area: International Affairs
- Touches household money: yes
- Last recorded action: 2026-10-30

## Summary

**Mobilize the African and Caribbean diaspora for development and cheaper remittances.** This bill would create tax incentives, matching funds, and new Treasury and DFC programs to channel diaspora capital into projects and cut the cost of sending money.

## Cosponsors (5)

- Rep. Jackson, Jonathan L. [D-IL-1] (D-IL), 2025-07-22T00:00:00.000Z
- Rep. Carson, André [D-IN-7] (D-IN), 2025-09-08T00:00:00.000Z
- Rep. Davis, Danny K. [D-IL-7] (D-IL), 2025-09-08T00:00:00.000Z
- Del. Plaskett, Stacey E. [D-VI-At Large] (D-VI), 2025-09-08T00:00:00.000Z
- Rep. Bell, Wesley [D-MO-1] (D-MO), 2025-09-30T00:00:00.000Z

## Provisions PRIA read

- Lower taxes on remittances you send: benefit, high. You would be able to deduct up to $3,000 each year for qualified remittances sent to people in African Union or CARICOM countries. The money would need to be used for housing, farming, school, health care, or small business. The bill would also repeal the federal remittance excise tax for transfers…
- Tax break for diaspora investments: benefit, high. If you make a certified diaspora investment after enactment, you would be able to exclude dividends and interest from your income. Your basis at sale would be set to fair market value, but the excluded payments plus the step-up would be capped at $12,000 per year. The $12,000 cap would adjust for i…
- More ways for diaspora to invest: benefit, medium. The DFC would match eligible diaspora or Caribbean development investments up to $5,000 per taxpayer, with inflation adjustments. The SEC would treat some African Diaspora investors as accredited in offerings where DFC or another development institution invests, if diaspora purchases stay under 25%…
- Help to start diaspora remittance firms: benefit, low. Treasury would remove undue regulatory barriers for fintech remittance providers owned by members of the African Diaspora. A new Remittance Innovation Fund would offer technical help and seed funding to start or grow these firms. These steps aim to lower transfer costs and improve secure, traceable…

## Related bills

- 119-hr-9877: Health Equity and Accountability Act of 2026
- 119-hr-7973: Momnibus Act
- 119-hr-5862: American Energy Independence and Affordability Act
- 119-hr-5361: George Floyd Justice in Policing Act of 2025
- 119-hr-51: Washington, D.C. Admission Act
- 119-hr-20: Richard L. Trumka Protecting the Right to Organize Act of 2025

## Sources
- [119-hr-4586 on Congress.gov](https://www.congress.gov/bill/119th-congress/house-bill/4586)

## Related
- [119-hr-9877: Health Equity and Accountability Act of 2026](https://policyrisk.com/legislation/119-hr-9877)
- [119-hr-7973: Momnibus Act](https://policyrisk.com/legislation/119-hr-7973)
- [119-hr-5862: American Energy Independence and Affordability Act](https://policyrisk.com/legislation/119-hr-5862)
- [119-hr-5361: George Floyd Justice in Policing Act of 2025](https://policyrisk.com/legislation/119-hr-5361)
- [119-hr-51: Washington, D.C. Admission Act](https://policyrisk.com/legislation/119-hr-51)
- [119-hr-20: Richard L. Trumka Protecting the Right to Organize Act of 2025](https://policyrisk.com/legislation/119-hr-20)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/119-hr-4586 (as of 2026-10-30).