Remittance Expense Minimization and Integrity for Transfers Act

The REMIT Act of 2025 would curb the federal government’s ability to impose excise taxes or fees on money transmitting businesses unless the Treasury Secretary certifies to Congress that such taxes or fees would not increase money laundering or other financial-crime risks and would not place an undue burden on the businesses. The bill defines money transmitting businesses broadly to include licensed money senders, informal transfer networks, and any business that transmits currency, funds, or value outside the traditional banking system. The findings emphasize the importance of remittances for recipient economies and raise concerns about informal value transfer systems and their potential use for illicit activity.