By Julia Blocher, United Nations University
The current incarnation of this vow is the Border Wall Funding Act of 2017, which proposes “to amend the Electronic Fund Transfer Act to impose a fee for remittance transfers to certain foreign countries”. The underlying misconception is that remittances — money transfers made by migrants to their home countries — are an untaxed revenue stream that should be leveraged to pay for wall construction.
But remittances from the US to Mexico are already fined at around 5%. Plus, remittances are worth far more than their face value.