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Treasury Secretary Scott Besstent said Friday his department is working to cut federal benefits for illegal immigrants under the President’s directive. Donald Trump.
Bessent wrote in a post on X that “We’re Working to Cut Corporate Profits illegal aliens and save them for US citizens. “
He said the budget “announced that it will issue proposed rules that specify that certain parts of the money returned are income, income tax credit, additional tax credit, and ANGER ASMET tax credit, and the Saver credit.”
Bessent’s post referred to the announcement made by the Ministry of Finance last week that it will propose new rules specifying that the returned parts “
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Bessent and the Treasury are developing regulations to protect tax benefits from going to unauthorized immigrants. (Eric Lee/Bloomberg via Getty Images)
Bessent added in the follow-up, “If you are here illegally, there is no place for you in our financial system.
“Illegal aliens who use our financial institutions to transfer their ill-gotten gains are being exploited, and it will end.”
The move follows a recent legal opinion by Department of justice The office of legal advice, which accepted that interpretation.
The announcement of the Treasury indicated that plans for its final rules to apply for the first tax year 2026.
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Bessent’s announcement comes as part of a broader crackdown on immigration by the Trump Administration. (Joshua Lott / The Washington Post)
“The Office of Tax Policy and Internal Revenue Service have worked tirelessly to develop this program and ensure its successful implementation,” Sessent said in the announcement. Their diligence and determination demonstrate the dedication of our tax administration.
“We will continue to ensure that taxpayer resources are directed only to those entitled to the Act.”
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The IRS will help crack down on illegal financial payments. (Kayla Bartkowski/Getty Images)
The Financial Services Network (FinCen) announced Friday that it is issuing a warning to financial institutions to protect illegal aliens from harming the US financial system by moving Illegal proceeds.
Notes announcing that Money Services businesses (MSBs) are generally required to file a suspicious activity report for transactions involving at least $2,000 and that they suspect or have reason to violate a legal or regulatory requirement.
Those professionals include Transfer of Border Funds obtained from illegal employment or otherwise obtained in the US
Bessent posted after Trump said Thursday that his administration would “permanently pause” immigration for everyone from “third world countries” after the death of a National Guard member.
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The comments mark a further increase in immigration measures Trump has ordered since the shooting that investigators say was carried out by the Afghan government who entered the US through a resettlement program.
Trump did not identify other countries by name or explain what he meant by third world countries or “Pause.” He said the program includes cases approved under the administration of President Joe Biden.
Reuters contributed to this report.
