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The REMIT Act would prohibit the federal government from imposing excise taxes or fees on money transmitting businesses unless the Treasury Secretary certifies to Congress that such taxes will not increase money laundering risks or create undue business burdens. The bill affects money transmitters of all sizes, including both licensed remittance services and informal money transfer systems. Congress finds that remittances—totaling over $500 billion globally—are critical to fighting poverty and stabilizing economies in developing nations, but argues that taxes on these services push consumers toward unregulated systems that facilitate criminal activity, drug trafficking, and terrorism financing. The legislation does not authorize new spending or establish specific timelines for Treasury certification but requires the Secretary to document that any new taxes meet both financial crime and business feasibility standards before implementation. The bill was introduced in July 2025 and referred to the House Ways and Means Committee and Financial Services Committee.

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