U.S. Rep. Nathaniel Moran, R-Tyler, has introduced a bill that would establish a source of funding to address security and other issues related to the southern border.

If passed into law, The Border Security Investment Act would place a 37 percent user-based transaction fee on remittance transfers via money services businesses, where the remittance originates in the U.S. and is sent to one of the top five nations of origin for illegal immigration into the United States, according to a statement from Moran’s office.

Under the bill, revenue collected from these remittances would be placed into two trusts. One fund would be used by the federal government only for border security in the form of technology investment, physical barriers and salaries and wages for Border Patrol agents, according to Moran’s office. The second trust fund would only be used to reimburse states for expenditures for border security enforcement measures in the form of deterring unlawful crossing, detecting unlawful activity and entry into the United States and for gaining operational control of the southwest border.

“This bill also restores fiscal responsibility by directing unexpended funds held in trust in excess of $50 billion between these two trust funds to go towards reducing the national debt,” according to the statement from Moran’s office.

‘Record surges in unlawful crossings ... is one we cannot afford to ignore,” Moran said in the statement. “The Border Security Investment Act is narrowly tailored in its approach by seeking to target only those transactions often times used by those here illegally or those here legally who are not paying taxes, but who are enjoying the benefits of our nation’s social services.

“Most importantly, this legislation will generate funding for badly-needed border security investments without adding to the national deficit or leaving taxpaying Americans to foot the bill for the border crisis.”