Requiring Excise for Migrant Income Transfers Act” or the “REMIT Act.

This bill proposes to amend the Internal Revenue Code of 1986 to modify the existing tax structure on remittance transfers—money sent by individuals (typically immigrants) to recipients in other countries. While the bill's title indicates an intent to change how these transfers are taxed, the full legislative text beyond the title was not provided, making it impossible to determine the specific modifications proposed. Remittance transfers are a significant source of income for many developing countries, and any tax changes could affect both senders (often working-class immigrants) and recipients abroad, as well as the money transfer industry.