An Act cited as the “Border Wall Funding Act of 2017” was introduced as H.R.1813 at the 115th Congress of the United States. Its purpose is intended to amend the Electronic Fund Transfer Act to impose a fee for remittance transfers to certain foreign countries, and for other purposes.
The purpose of this amendment is designed to fund the Mexican Border Wall promised by US President Donald Trump in his campaign and since his election.
According to H.R. 1813 the wall will be funded by fee charged to money transfers. It states, “FEES.—If the designated recipient of a remittance transfer is located in a foreign country described in subparagraph (B), a remittance transfer provider shall collect from the sender of such remittance transfer a remittance fee equal to 2 percent of the United States dollar amount to be transferred (excluding any fees or other charges imposed by the remittance transfer provider). Except as provided in subparagraph (C), such remittance fees shall be submitted to the Treasury to be expended for the purpose of improving border security.”
This means an additional 2% fee will be added on top of any other fees by transfer services such as Western Union, MoneyGram, etc.
Transfers to the following countries are subject to this additional fee: Mexico, Guatemala, Belize, Cuba, the Cayman Islands, Haiti, the Dominican Republic, the Bahamas, Turks and Caicos, Jamaica, El Salvador, Honduras, Nicaragua, Costa Rica, Panama, Colombia, Venezuela, Aruba, Curacao, the British Virgin Islands, Anguilla, Antigua and Barbuda, Saint Kitts and Nevis, Montserrat, Guadeloupe, Dominica, Martinique, Saint Lucia, Saint Vincent and the Grenadines, Barbados, Grenada, Guyana, Suriname, French Guiana, Ecuador, Peru, Brazil, Bolivia, Chile, Paraguay, Uruguay, or Argentina.
There has been much resistance by U.S. taxpayers to pay for the Border Wall and President Trump had vowed to get to Mexico to pay for it. The former and current presidents of Mexico vowed not to make any payment towards this project. It looks like Trump has been creative in stuffing this expense down the throats of people who can do little to oppose it.
Estimates on the cost of the wall put it between US$4 -$10 billion!
The full text of H.R.1813 – Border Wall Funding Act of 2017 on US Congress website.