# 119-hr-8995: REMITTANCE Act

119-hr-8995, REMITTANCE Act, is a 119th Congress bill sponsored by Rep. Roy, Chip [R-TX-21] (R-TX); status introduced; PRIA reads it as touching household money (as of 2026-06-13).

- Canonical: https://policyrisk.com/legislation/119-hr-8995
- As of: 2026-06-13
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 119-hr-8995
- Congress: 119
- Title: REMITTANCE Act
- Status: introduced
- Introduced: 2026-05-21
- Sponsor: Rep. Roy, Chip [R-TX-21] (R-TX)
- Cosponsors: 0
- Policy area: Taxation
- Touches household money: yes
- Last recorded action: 2026-06-13

## Summary

**This bill would sharply raise the excise tax on remittance transfers to 25% and pair that hike with a refundable credit for U.S. citizens who pay the tax.** It would also require collected amounts to be deposited into the Treasury general fund for deficit reduction and direct the Treasury Secretary to issue regulations and technical tax-code updates to implement the change. - Families and households who send money abroad would face a much higher excise tax on remittance transfers, rising to 25% from 1%. This increases the direct cost of sending remittances. - U.S. citizens who pay the excise tax on remittances for business or travel purposes could claim a refundable credit equal to the tax they paid, subject to rules set by the Secretary. - Federal finances would receive the revenues from the higher tax and those amounts would be deposited in the Treasury general fund for the sole purpose of deficit reduction. - Tax administrators would need to issue regulations and add cross-references in the tax code to integrate the new refundable credit. *It would direct revenues from the higher remittance excise tax into the Treasury general fund for deficit reduction.*

## Provisions PRIA read

- Refundable remittance tax credit: benefit, high. You would be able to claim a refundable tax credit if you are a United States citizen. The credit would equal the total excise tax you paid under section 4475(b)(1) for business or travel transfers during the year. The Secretary would issue guidance or regulations to implement the credit. The credi…
- Higher remittance tax for senders: cost, medium. If enacted, the excise tax on remittance transfers would rise from 1% to 25%. If you send money abroad, you would pay an extra 24% of each transfer amount. The bill would adopt the Electronic Fund Transfer Act definitions of "remittance transfer", "provider", and "sender". That change would widen w…

## Related bills

- 119-hr-3330: Energy Freedom Act
- 119-hr-9200: Secure the Border Act of 2026
- 119-hr-9199: Permanent Trump Secure Border Act
- 119-hr-8206: Homeland Security and Further Additional Continuing Appropriations Act, 2026
- 119-hr-6225: PAUSE Act of 2025
- 119-hr-8443: End H–1B Visa Abuse Act of 2026

## Sources
- [119-hr-8995 on Congress.gov](https://www.congress.gov/bill/119th-congress/house-bill/8995)

## Related
- [119-hr-3330: Energy Freedom Act](https://policyrisk.com/legislation/119-hr-3330)
- [119-hr-9200: Secure the Border Act of 2026](https://policyrisk.com/legislation/119-hr-9200)
- [119-hr-9199: Permanent Trump Secure Border Act](https://policyrisk.com/legislation/119-hr-9199)
- [119-hr-8206: Homeland Security and Further Additional Continuing Appropriations Act, 2026](https://policyrisk.com/legislation/119-hr-8206)
- [119-hr-6225: PAUSE Act of 2025](https://policyrisk.com/legislation/119-hr-6225)
- [119-hr-8443: End H–1B Visa Abuse Act of 2026](https://policyrisk.com/legislation/119-hr-8443)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/119-hr-8995 (as of 2026-06-13).