Story perspectives

Trump's New Tax on Remittances Hits Immigrant Families Hard

7/6/2025

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Summary

Story summary

On July 4, 2025, President Trump enacted the One Big Beautiful Bill Act, introducing a 1% tax on remittances sent from the U.S. to countries like India. Set to take effect on January 1, 2026, this tax threatens to strain immigrant families and disrupt economies that depend on these vital funds.

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Story summary

On July 4, 2025, President Trump enacted the One Big Beautiful Bill Act, introducing a 1% tax on remittances sent from the U.S. to countries like India. Set to take effect on January 1, 2026, this tax threatens to strain immigrant families and disrupt economies that depend on these vital funds.