Gambia: Economist Warns U.S. Remittance Levy Could Impact the Gambia

Gambia: Economist Warns U.S. Remittance Levy Could Impact the Gambia

The United States is currently considering a proposal to impose a 5% levy on all international remittance outflows, a move that could have far-reaching consequences for countries that are heavily reliant on remittance inflows, like The Gambia, economist Foday Joof warns.

"I don't know what would happen if I stopped receiving that money," says María Eugenia Valenzuela, who prays every day for her two children who live in the United States and support her after she stopped working for…

Trump targets illegal migration with remittance tax plan

Washington plans a 5% tax on remittance transfers that would cover millions of foreigners living in the US. With about $160 billion sent by Latin Americans alone, their home countries would be among the hardest hit.

President Donald Trump’s administration has not only intensified the raids and deportations of undocumented migrants, but now seeks to impose a new 5% levy on remittances sent by people who are not U.S. citizens. This measure, which would directly affect millions of Latin American families, would generate a severe economic blow for countries such as Mexico, Guatemala, Honduras and El Salvador, whose economies depend heavily on these shipments. F…

Economist Warns U.S. Remittance Levy Could Impact The Gambia – Foroyaa Newspaper

By Amadou Manjang The United States is currently considering a proposal to impose a 5% levy on all international remittance outflows, a move that could have far-reaching consequences for countries that are heavily reliant on remittance inflows, like The Gambia, economist Foday Joof warns. The proposed bill, titled “The One Big Beautiful Bill,” was introduced on May 12, 2025, and seeks to tax money transfers made by non-citizens or foreign worker…

The tax would affect more than 40 million people, both undocumented and residents with ‘green card’, and other non-immigrant visas, according to Congressional Hispanic Caucus (CHC). Miami (EFE).- The proposal for a 5% tax on remittances sent from the United States, which is now being debated by the House of Representatives, distresses migrants whose families depend on this money, with more than 40 million people who would be affected in U.S. ter…