How the proposed 3.5% US remittance tax could shrink savings for NRIs, visa holders – CNBC TV18

“Sending money home from the United States could get costlier for immigrants if a proposed 3.5% excise tax on remittances becomes law. The US House of Representatives has passed the “One Big Beautiful Bill,” which includes this tax aimed at non-US citizens. The measure is now awaiting Senate approval and could take effect from January 1, 2026. The tax, if enacted, will apply to every international money transfer made by non-citizens, including H-1B visa holders, green card holders, and students on F-1 visas.”