Government and Money Transfer Businesses Breathe Sigh of Relief as Trump’s Remittance Tax is Cut to 1%; But U.S. Citizens Now Also Face the Levy
By Aria Deemie with New Narratives The United States Congress passed the “Big, Beautiful Bill,” which President Donald Trump signed into law on Friday. The Senate sharply reduced a controversial tax on remittances, money sent abroad by immigrants from an initial 5 percent proposal to 3.5 percent, and finally to 1 percent, easing the burden…