Laura Porras-Alfaro, senior manager of business analysis at Creative Associates International: “The initial draft of the ‘One Big Beautiful Bill’ proposed a 5 percent remittance tax with minimal exemptions—an alarming figure that would have more than doubled remittance costs to many countries and adversely affected tens of millions of senders and recipients. The final text—setting the tax at 1 percent and exempting transfers made via U.S.-issued bank accounts, as well as debit and credit cards—was a relief for many immigrant communities. Importantly, the bill narrowed the taxable scope to non-bank, cash-funded transactions, shielding remitters who use formal banking products. Although the law explicitly includes H-1B and other visa holders in the taxable population, many do possess U.S. financial tools that place their transfers in the exempt category. However, a troubling aspect remains: the change is likely to disproportionately affect…”