Correct. The US has hate crime laws that pertain to assault battery and death but no hate speech laws.

Pursuant to the 1st ammendment free speech has become a variety of things and has been modified in a very grim manner recently.

Speech is now cash, and after the Citizens United Supreme Court ruling, Millions of dollars by secret donors be they American or not are allowed to influence Federal Elections.
Speech used to be all kinds of expression be it rolling your eyes , books, movies or even porn. Now that speech has become money the issue of free speech is as corrupt as money used for any nefarious use.

If we had hate speech laws what would happen regarding money being used for hateful reasons?

Yes a new Constitutional ammedment is needed as a result of Citizens United rulings, at least to bring speech back to being expression and not "he who has the most cash rules".