State legislators should pass a fee on international wire transfers to combat illegal immigration in Alabama, according to the America First Policy Institute (AFPI).
According to a memo released by the think tank on Wednesday, “Illegal alien and narcotic trafficking networks often exploit wire transfer services to move money abroad, taking advantage of their less stringent oversight compared to banks.”
“Alabama could counter this by implementing a fee on international wire transfers. This approach would generate revenue without increasing taxes while also deterring illegal activities. Legal residents who make international wire transfers can reclaim the fee through tax credits when they file their annual tax returns. The state could use the additional funds to address the unfunded costs related to illegal immigration and enhance law enforcement efforts,” AFPI said in the memo.
According to the Federation for American Immigration Reform, illegal aliens and their children cost Alabama $524 million in 2023, with each illegal alien costing the state $4,298.
According to AFPI, the fee on international transfers “deters illegal immigration and trafficking networks.”
“Imposing a fee on outgoing international wire transfers makes it less desirable for illegal aliens or smuggling and trafficking networks to remain in the state. This added cost imposed on unlawful conduct could disincentivize these enterprises from operating in the state. It could fund law enforcement. Law enforcement is often outmatched by well-funded cartels. The funds generated by this fee can be earmarked to enhance law enforcement efforts against smugglers and traffickers and keep communities safe. It recoups untaxed income. In many instances, the wages illegal aliens receive working unlawfully in the country are untaxed income, which financially harms states. This fee partially recoups some of the lost state revenue caused by illegal immigration in the state,” AFPI said.
Fact Sheet - Combating the Impacts of Illegal Immigration in Alabama (1) by Caleb Taylor on Scribd
The America First Policy Institute (AFPI) is a 501(c)(3) non-profit, nonpartisan research institute that advances policies that prioritize the American people.
To connect with the author of this story or to comment, email caleb.taylor@1819News.com.
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