Trump bill may cost OFWs $100M - BusinessWorld Online

Trump bill may cost OFWs $100M - BusinessWorld Online

By Chloe Mari A. Hufana, Reporter THE PHILIPPINES is expected to receive $100 million (P5.66 billion) less in remittances next year if US President Donald J. Trump’s “One, Big, Beautiful Bill Act,” which imposes a 3.5% tax on remittances sent by noncitizens, gets congressional nod, according to the presidential palace on Thursday. The cut is 0.3% of the $36.5 billion that overseas Filipino workers (OFWs) are projected to send to their families b…