Cleveland, OH - Conservative outsider Mike Gibbons today released an innovative plan that would result in Mexico paying for the border wall. Under the plan, entrants across the Mexican border into the United States would pay a border crossing toll that would fund the construction and maintenance for the border wall.
“As a conservative outsider, I plan on bringing common-sense conservative solutions to the U.S. Senate,” Gibbons said. “This innovative plan is a perfect example. It will build the wall to protect our border and cost the American taxpayer nothing, helping to fulfill one of President Trump’s key campaign promises.”
The career politicians have not been able to get the Wall funded for President Trump, but Mike Gibbons will.
Estimates for the cost of the border wall have ranged from $12 billion to $21.6 billion. Senate Democrats have said that under a worst case scenario annual maintenance of the wall would be $150 million annually.
Everyday almost 500,000 people legally cross the border from Mexico into the United States. If a toll of $10 was issued for crossing into the United States, the U.S. government would receive $5,000,000 a day or $1.825 Billion per year. One example of paying for the wall would be a 30 year bond amortized by the fees.
The payment of a 30 year bond of $21.6 Billion would be approximately $1.03 Billion a year, leaving more than enough money to cover maintenance and other costs or accelerated amortization.
Mexico should not be surprised by the United States taking this action. Mexico also already charges to cross from the United States into their country. The country charges tourists approximately $22 to enter. They charge between $29.70-$49.50 to bring a vehicle into the country. To fund the U.S. border wall, the United States would have to charge less than half of what Mexico already charges visitors to come into their country.
“As a banker, I’ve done financings like this my entire life,” Gibbons said. “This deal is a no-brainer. It can be constructed in such a way that we can build the wall, have Mexico pay for it, and I believe financing could be done without adding to the national debt. Payments can be secured primarily by stream of entry fees as collateral for repayment.”
For comparison, it can cost up to $18.75 to drive across Ohio on the Ohio Turnpike.