# 119-hr-5595: Requiring Excise for Migrant Income Transfers Act” or the “REMIT Act.

119-hr-5595, Requiring Excise for Migrant Income Transfers Act” or the “REMIT Act., is a 119th Congress bill sponsored by Rep. McGuire, John J. [R-VA-5] (R-VA); status introduced; PRIA reads it as touching household money (as of 2026-04-21).

- Canonical: https://policyrisk.com/legislation/119-hr-5595
- As of: 2026-04-21
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 119-hr-5595
- Congress: 119
- Title: Requiring Excise for Migrant Income Transfers Act” or the “REMIT Act.
- Status: introduced
- Introduced: 2025-09-26
- Sponsor: Rep. McGuire, John J. [R-VA-5] (R-VA)
- Cosponsors: 1
- Policy area: Taxation
- Touches household money: yes
- Last recorded action: 2026-04-21

## Summary

**Raises the excise tax on remittance transfers from 1% to 15%.** The bill also creates a narrow exemption and a refundable credit for verified U.S. senders, and it adds new reporting and penalty rules for remittance providers. - Families and individual senders: Transfers that are not exempt or not verified as from a U.S. sender face a much higher excise tax, making remittances substantially more expensive for many households. - U.S. citizens and nationals: Eligible senders who use a qualified remittance transfer provider and who are verified can avoid the higher tax and claim a new refundable credit equal to the remittance tax paid, but claimants must provide Social Security numbers and documentation to substantiate the tax and required certifications. The credit applies to taxable years ending after December 31, 2025. - Remittance providers and industry: Providers must collect and remit the higher tax, file new returns under section 6050BB that report transfer counts, values, and tax amounts, furnish statements to recipients who may claim the credit, and face expanded penalty rules and anti-conduit provisions to limit avoidance. The amendments take effect as if included in section 70604 of Public Law 119-21.

## Cosponsors (1)

- Rep. Rulli, Michael A. [R-OH-6] (R-OH), 2025-09-30T00:00:00.000Z

## Provisions PRIA read

- Refund or exemption for U.S. senders: benefit, high. If enacted, you could avoid the remittance tax if your provider signs a verification agreement and confirms you are a U.S. citizen or national. If you do pay the tax, you could claim a refundable income tax credit equal to all section 4475 tax you paid that year. To claim, you would need to list re…
- Much higher tax on remittance transfers: cost, medium. If enacted, covered money transfers would face a 15% excise tax, up from 1%. The tax would apply per transfer. Providers would send the tax to the IRS and could pass the cost to you. The change would take effect as if included in section 70604 of Public Law 119-21.

## Related bills

- 119-hr-3151: SHIPS for America Act of 2025
- 119-hr-9237: Take Care of America’s Veterans Act
- 119-hr-8870: BUILD America 250 Act
- 119-hr-137: TCJA Permanency Act
- 119-hr-1229: United States-Israel Defense Partnership Act of 2025
- 119-hr-833: Educational Choice for Children Act of 2025

## Sources
- [119-hr-5595 on Congress.gov](https://www.congress.gov/bill/119th-congress/house-bill/5595)

## Related
- [119-hr-3151: SHIPS for America Act of 2025](https://policyrisk.com/legislation/119-hr-3151)
- [119-hr-9237: Take Care of America’s Veterans Act](https://policyrisk.com/legislation/119-hr-9237)
- [119-hr-8870: BUILD America 250 Act](https://policyrisk.com/legislation/119-hr-8870)
- [119-hr-137: TCJA Permanency Act](https://policyrisk.com/legislation/119-hr-137)
- [119-hr-1229: United States-Israel Defense Partnership Act of 2025](https://policyrisk.com/legislation/119-hr-1229)
- [119-hr-833: Educational Choice for Children Act of 2025](https://policyrisk.com/legislation/119-hr-833)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/119-hr-5595 (as of 2026-04-21).