Family remittances have played a crucial role in strengthening payment networks, mitigating financial risks, and supporting global economic growth. These person-to-person flows serve as a primary source of asset building, increasing savings behavior and the overall stock of savings, while also reducing the intention to migrate. 

What are the key features shaping the 3.5 percent tax? To what extent does the amendment address the privacy concerns of U.S. citizens? Can this legislation preserve existing safeguards that help prevent financial risk in money transfers? Will the tax drive transfers through unlicensed and unregulated channels? What are the implications for remittance senders and recipients?

Join the Inter-American Dialogue on Wednesday, June 18, 2025, from 9:15 a.m. to 11:30 a.m. ET for a conversation on remittance transfers and the proposed Senate bill amendment that would impose a 3.5 percent tax on remittances sent by foreign-born individuals.

Follow this event on X (formerly Twitter)  @The_Dialogue.

OPENING REMARKS

MANUEL OROZCO

Director, Migration, Remittances, and Development Program, Inter-American Dialogue (@manuelorozco65)

SPEAKERS

KATHY TOMASOFSKY

Executive Director, Money Services Business Association (MSBA)

MARINA OLMAN-PAL

Shareholder, Greenberg Traurig; Co-Chair, Financial Regulatory & Compliance Practice; Chair, Legal and Regulatory Affairs Committee, FIBA

MODERATOR

ANDREW SELEE

President, Migration Policy Institute (MPI) (@SeleeAndrew)