Why President Trump’s tax on remittances is a bad idea

The “One Big Beautiful Bill Act”  that the House of Representatives passed on May 22 includes a 3.5% tax on outbound remittance money sent primarily by immigrants to their families abroad. At first glance, this may seem like an easy way to generate revenue. But in reality, it’s a short-sighted, harmful policy that will hurt the very people who can least afford it, push money transfers into the shadows and ultimately damage the state and U.S. economy.

I can say this with confidence based on research I conducted for my book...