Remittances

Critics of Trump’s proposed 3.5% tax on remittances say it essentially amounts to double taxation, crippling many of the poorest people in the world.

Jun 6 | President Trump’s “big, beautiful bill,” which passed the House last month, includes a 3.5% tax on remittances. Experts believe this tax would not only hurt economies abroad, but could also impact consumer spending levels in the US.