Monday, January 30, 2017

Rep. Jim Renacci op-ed: Here's A Way To Make Mexico Pay For The Wall

It is perhaps the most audacious campaign promise of all time: the United States will build a great wall on the southern border and Mexico will pay for it. Time and again, Mexican officials have claimed they will not pay for a wall.
As a strong and vigorous supporter of President Trump, however, I believe this is one campaign promise he will certainly keep. While cost estimates for such a wall have ranged from $10 to $25 billion, Mexico will pay for the wall, and here's one way to make it happen.
Rep. Jim Renacci (R-OH)
I plan to introduce the Border Wall Financing Act of 2017. I'm a firm believer in fiscally responsible infrastructure development. As with highways, the border wall should be built with a sustainable funding source. This legislation will impose a 25% surtax on any income from the sale, transfer, exchange or lease from any U.S. property owned by a Mexican national.
The revenue from this tax would be placed into a Border Wall Trust Fund. The tax would expire on the sooner of the fund accumulating $25 billion or the Mexican government directly transferring to the U.S. the necessary funds to build the wall.
Unlike other proposals, which seek to tax U.S. earnings sent back to Mexico and are largely viewed as regressive, this bill will fall primarily on Mexico's elite who are getting richer off their U.S. property investments.
Read the rest HERE.

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