(Washington Times) Foreign-born workers are sending some $150 billion a year home in remittances to friends, family members and associates outside the United States, says a new study published by the Federation for American Immigration Reform, a nonpartisan public interest group.
Such remittances are generally not subjected to international money transfer taxes, or sales and excise taxes.
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“Illegal aliens alone remit more than $28 billion annually. This $150 billion represents a direct loss to our economy, siphoning off valuable capital and reducing government revenues,” the nonprofit said in their study, which is based on an analysis of current U.S. Census and World Bank data.