Requiring Excise for Migrant Income Transfers Act” or the “REMIT Act.

[AI summary unavailable — showing source text] [Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [H.R. 5595 Introduced in House (IH)] <DOC> 119th CONGRESS 1st Session H. R. 5595 To amend the Internal Revenue Code of 1986 to modify the tax on remittance transfers. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES September 26, 2025 Mr. McGuire introduced the following bill; which was referred to the Committee on Ways and Means _______________________________________________________________________ A BILL To amend the Internal Revenue Code of 1986 to modify the tax on remittance transfers. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Requiring Excise for Migrant Income Transfers Act'' or the ``REMIT Act.'' SEC. 2. MODIFICATION OF TAX ON REMITTANCE TRANSFERS. (a) Increase in Rate of Tax.--Section 4475(a) of the Internal Revenue Code of 1986 is amended by striking ``1 percent'' and inserting ``15 percent''. (b) Exception for Remittance Transfers Sent by Citizens and Nationals of the United States Through Certain Providers…