By Admin 
If you live in America and send money to your family in India, then this news can shake you! A new bill has been introduced in the US Parliament, the name is ‘The One Big Beautiful Bill’ and a hidden clause has raised the concern of Indians. Let’s know what is the whole matter?
Your money will go to Trump’s bag
After this new bill, now it will be expensive to send money from America from America, because according to this bill, if you are not a citizen of America, every time you send money to your family members in India, then the Trump government will deduct 5 percent of its directly.
Understand One Big Beautiful Bill
This new bill, which was introduced in the US Parliament, is 389 pages long. A line is written on page number 327 which says, the money sent out of the US will be taxed 5 percent, if the sender is not the ‘Verified Us Sender’. That is, there is no citizen of America.
Which will affect the most?
This will have a direct impact on migratory Indians. There are about 45 million Indians in the US, most of them are on H-1B or L-1 visa or are green card holders. These people send money every month at their home, sometimes for my parents’ medicine, sometimes for sister’s education, sometimes for help in someone’s marriage. Now all these will have the crown of the tax of the Trump government.
How big losses to India?
In the year 2023-24, India received a remittance of $ 32 billion from the US. If 5 percent tax is extracted on this, then Indians will have to bear an additional burden of about $ 1.6 billion annually. The biggest thing is that this tax will be levied on every transfer, whether you are sending 5000 or 5 lakhs.
Why did Donald Trump do this?
Republican leaders presenting the bill say that this will help America to get the cost of $ 3.9 trillion dollars, in which there are plans to recover the Trump era’s tax cuts. But opponents say that on one hand, American laborers are being exempted, while those who help their family are being punished abroad.
Impact on India and developing countries?
According to the World Bank, in the year 2024, India received a record of $ 129.4 billion. This money helps to build houses in villages, teach children, get treatment and start small business. But now the money coming from America can be reduced, because people will be able to send less money due to tax.
What will happen next?
The bill is set to pass in the US House of Representatives by 26 May and will make a law by July 4 (US Independence Day). That is, if it passed, then from July itself, a 5 percent reduction can start on sending money.
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