King Pushes Back Against Drug Cartel, Illegal Immigration with Legislation Targeting their Money

COLUMBUS –State Representative Angie King (R-Celina) has introduced legislation to stop drug cartels, human trafficking and illegal immigration by imposing a fee on international wire transfers. 

The Ohio Withholding Illegal Revenue Entering Drug (WIRED) Act will require a 7% remittance transfer fee on all money being sent outside of the United States. 

“The majority of money made from illegal activity like drug and human trafficking is being made here in United States, but is heading out of the country,” said King. “This legislation will essentially tax the transfer of this money in an effort to put an end to money laundering and other criminal activity in Ohio.” 

The money from these wire-transfer fee will be collected into a state fund that will then be granted to law enforcement initiatives to combat drug and human trafficking and illegal immigration around Ohio.

For those who are transferring money internationally for legitimate business, the legislation will also create a tax credit, which individuals can receive on their state tax returns. 

The legislation has not yet been assigned to a House committee.