State Rep. Angela King | The Ohio House of Representatives
State Rep. Angela King | The Ohio House of Representatives
State Representative Angie King (R-Celina) has introduced legislation aimed at combating drug cartels, human trafficking, and illegal immigration by targeting the flow of money. The Ohio Withholding Illegal Revenue Entering Drug (WIRED) Act proposes a 7% remittance transfer fee on all international wire transfers.
According to King, "The majority of money made from illegal activity like drug and human trafficking is being made here in the United States, but is heading out of the country." The legislation seeks to address this issue by taxing the transfer of such money to deter money laundering and other criminal activities in Ohio.
The funds collected from these wire-transfer fees will be channeled into a state fund, which will then be allocated to law enforcement initiatives dedicated to combating drug and human trafficking as well as illegal immigration across Ohio.
In addition to targeting illicit activities, the WIRED Act also includes provisions to assist individuals engaging in legitimate international business transactions. It will offer a tax credit that can be claimed on state tax returns.
As of now, the legislation has not been assigned to a House committee, indicating that further discussions and evaluations are yet to take place.
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