Trump's New Bill Could Hit African Remittances Hard
The proposed tax on remittances could greatly affect African nations and impoverished families relying on money sent home from abroad.
The Trump administration is pushing a "One Big, Beautiful Bill" that targets remittances, potentially making the U.S. the costliest G7 nation for sending money. This change may devastate families in Africa who depend on these funds, as remittances are a crucial financial lifeline. The bill would take a percentage from all remittances, and countries like Nigeria, Gambia, and Senegal stand to suffer significant losses. As the U.S. scales back aid and imposes tariffs, the future of assistance to the continent appears bleak, particularly for nations with high poverty rates reliant on funds from abroad.
The proposed tax on remittances could greatly affect African nations and impoverished families relying on money sent home from abroad.
The Trump administration is pushing a "One Big, Beautiful Bill" that targets remittances, potentially making the U.S. the costliest G7 nation for sending money. This change may devastate families in Africa who depend on these funds, as remittances are a crucial financial lifeline. The bill would take a percentage from all remittances, and countries like Nigeria, Gambia, and Senegal stand to suffer significant losses. As the U.S. scales back aid and imposes tariffs, the future of assistance to the continent appears bleak, particularly for nations with high poverty rates reliant on funds from abroad.
