Trump’s remittance tax sours Indian view of US dream

Trump’s remittance tax sours Indian view of US dream

President Donald Trump’s “One Big Beautiful Bill” includes a 3.5 per cent excise tax on remittances sent abroad by non-US citizens. India, the world’s largest recipient of overseas remittances, received approximately $129 billion in 2024, with 28 per cent originating from the US

The proposed legislation could tax remittances and dwindle the flow of money from US to India. AI-generated representational image