The US proposes a 5% tax on foreign remittances, impacting millions of immigrant workers, including Non-Resident Indians (NRIs). The tax aims to generate revenue for extending tax cuts and funding border security. If passed, it would apply to international money transfers made by non-citizens, including green card holders and visa workers. India, receiving over $83 billion in remittances annually, would be significantly affected. The tax could reduce the value of every dollar sent, impacting family support and long-term financial planning. Key details:

- *Tax Rate*: 5% on international money transfers

- *Affected Groups*: Green card holders, temporary visa holders, NRIs

- *Revenue Purpose*: Funding tax cuts and border security

- *Implementation Timeline*: Potentially by July 2025.#BinanceTGEAlayaAI $BTC