Why the Business World Is Worried About Proposed Tax on Remittances and 'Revenge Tax'

Why the business world is worried about proposed tax on remittances and 'revenge tax'

For decades, the U.S. has welcomed the flow of foreign capital into the country. But two tax measures nestled into President Trump's spending package could change that.

The Unintended Consequences Of The 'Revenge Tax'

John Crabb, II The so-called revenge tax is ruffling feathers in the asset management community and increasing uncertainty in the U.S. markets.

Privacy advocates concerned about remittance tax in Trump’s 'Big Beautiful Bill'

Tucked away in the budget bill is a 3.5% tax on money people send to friends and relatives abroad. But people can avoid the tax by handing over personal information to the federal government.

Trump's 'One Big Beautiful Bill Act': How remittance tax plan might deliver a big economic blow to US allies?

Trump's 'One Big Beautiful Bill Act'': A new US bill proposes a 5% tax on money sent from the US to other countries. This targets non-citizens and foreign nationals. It could impact countries like El Salvador, Honduras, and Guatemala. Mexico opposes the tax, citing its impact on vulnerable workers. The bill may face legal and logistical challenges. It could also affect Indians living in the US.

The US is taxing the world's poorest - and is disguising it as regulation - Affects people sending remittances

Richard Murphy exposes a move to make life harder for immigrants and their families financially by hitting remittances. The Financial Times reported this week that the US Treasury has proposed new rules that could make sending money home much harder and more expensive for millions of migrants, which is a move likely to hit some of the world's poorest communities hardest.