GOP Bill Looks To Impose a Tax On Remittances, Potentially Disrupting The Economy Of Several Countries

Migrant families could be heavily impacted if Congress approves a bill taxing remittances (Credit: Getty Images)

House Republicans are looking to impose a tax on remittances as part of President Donald Trump's priority bill, potentially impacting the economies of many families and countries that largely depend on the money sent from the U.S.

Concretely, the bill would impose a 5% tax on such transfers and be aimed at people who are not U.S. citizens. That means those reached would include over 40 million people, including green card holders and nonimmigrant visa holders, The Associated Press explained.