Border Security Investment Act

This bill would add a large fee to certain money transfers sent from the U.S. to other countries. Money transfer companies would have to charge an extra 37% on transfers sent to the five countries whose citizens had the most unlawful entries into the U.S. the year before, as identified by U.S. Customs and Border Protection. The fee money goes to the U.S. Treasury.

Each year, half of that money would be placed in a fund to repay border States for recent border security costs. States could apply by sending receipts, and the payouts would be split based on how much each state spent. The other half would go to a fund for border security needs, including technology to detect crossings, physical barriers at the southern border, and Border Patrol salaries. If the combined total in these funds ever goes above $50 billion, the extra would be canceled and used only to reduce the federal deficit. The law would take effect within 30 days of being enacted .

• Who is affected: People in the U.S. sending money to certain countries; border States and their agencies .
• What changes: A 37% fee on covered transfers; funds created to reimburse States and to pay for border security tech, barriers, and agent pay; any excess over $50B goes to deficit reduction .
• When: Starts no later than 30 days after enactment; States can apply for reimbursement soon after enactment for recent costs .