Trump bill may cost OFWs $100M

THE PHILIPPINES is expected to receive $100 million (P5.66 billion) less in remittanc-es 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.

- By Chloe Mari A. Hufana

The cut is 0.3% of the $36.5 billion that overseas Filipino workers (OFWs) are pro-jected to send to their families back home and 0.003% of economic output in 2026, Palace Press Officer Clarissa A. Castro told a news briefing on Thursday, citing estimates by De-partment of Finance Chief Economist Domini SD. Velasquez.

“Although 41% of the remittances are rout-ed to the US, not all of these are from Filipinos in the US because remittances are routed to the US via correspondent banks,” she added.

Mr. Trump’s controversial bill, which was approved by the US House of Representa-tives in May, includes a provision imposing an excise tax of 3.5% on money sent abroad by foreign workers in the US. The US Senate is now deliberating on the measure.