Republican lawmakers have reportedly introduced a bill to impose 5% tax on international money transfers.
This includes money remitted to Jamaica, El Salvador, Guatemala, Mexico, Philippines and India, as well as other countries, by their nationals who are not citizens of the USA.
The bill was submitted to Congress on Monday, May 12.
The reports also indicate that US President Donald Trump, who proposed the measure in 2017, is urging Congress to pass the bill by May 25. The funds generated from this tax will be used to fund the Trump tax cuts to the rich and border security.
Jamaica generated net remittances of US$3.13 billion or 17% of GDP last year.
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