Senate
Jun 10, 2025REMIT Act
Summary
AI Generated
The REMIT Act amends the Internal Revenue Code to impose a 15% excise tax on remittance transfers (money sent abroad by individuals through providers like banks or apps). Senders pay the tax upfront, collected by providers and remitted quarterly to the IRS. Providers face secondary liability if uncollected. U.S. citizens and nationals are exempt if using a "qualified" provider that verifies...
Bill Progress
Bill has been introduced and assigned a number
Introduced(6/10/25)
Committee
Passed
House
Passed
Senate
President
Law
Sponsor
ES
Mr. Schmitt
Senate (R) Missouri
Latest Action
Read twice and referred to the Committee on Finance.
Jun 10, 2025
View Bill on Congress.gov