America’s hidden subsidy to India

A recently proposed U.S. tax on remittances sent abroad by non-citizens has exposed a truth few Americans have been told – that the United States has become a primary financial engine of the Indian economy.

The provision, quietly included by the House Ways and Means Committee in a broader legislative package introduced on May 12, commonly referred to as the “One, Big, Beautiful Bill,” initially proposed a 5% tax on international money transfers by non-citizen visa holders and green card recipients.