WASHINGTON—U.S. Senator Bill Cassidy, M.D. (R-LA), a member of the Senate Finance Committee, today introduced an amendment that would crack down on drug traffickers laundering money across our southern border and use the seized funds to pay for border security measures, including a border wall system.
“It’s estimated drug traffickers launder $110 billion between the U.S. and Mexico every year, but as best we can tell the U.S. government only captures about $7 billion,” said Dr. Cassidy. “We need to do better. If we confiscate this money, we can pay for better border security and make drug traffickers less able to hurt our communities.”
Cassidy’s bill would:
- Fully fund enhanced border security by issuing bonds overseen by the U.S. Attorney General and the secretaries of Homeland Security and the Treasury.
- Ensure the bonds are repaid with money seized from and forfeited by drug traffickers moving illicit profits across the southern border.