May 18, 2025 - Participants include:
Dr. Laura Snyder - @TAPInternation
John Richardson - @ExpatriationLaw
Introduction:
Part of the "Big Beautiful Bill" introduced by the Trump administration includes a 5% tax on "remittance transfers". Contrary to the publicity, this provision is NOT restricted to "illegal aliens" and is NOT restricted to remittances sent outside the United States.
It is easy to imagine that this could have a "mission creep" that would eventually result in complete capital controls in the United States.
The following links will be helpful in understanding:
- what the proposal means
- who is affected by it
- compliance concerns
- evolution
https://waysandmeans.house.gov/wp-content/uploads/2025/05/The-One-Big-Beautiful-Bill-Section-by-Section.pdf https://www.whitehouse.gov/articles/2025/05/one-big-beautiful-bill-is-a-once-in-a-generation-chance/ https://punchbowl.news/wp-content/uploads/SMITMO_017_xml.pdf
https://www.law.cornell.edu/uscode/text/15/1693o-1 https://www.law.cornell.edu/uscode/text/26/subtitle-D/chapter-36
AI Description:
"Join John Richardson from Toronto, Canada, as he delves deep into the implications of the recently introduced but contested "big, beautiful bill" alongside Dr. Laura Snyder, President of SEAT. This episode focuses on "SEC. 112105. EXCISE TAX ON REMITTANCE TRANSFERS" of the "Big Beautiful Bill" concerning the new excise tax on remittance transfers.
Throughout the conversation, John and Laura unpack the details and potential consequences of this legislation. They explore its broader impacts, notably on legal immigrants, green card holders, and even U.S. citizens residing abroad. The discussion highlights concerns about the tax's possible contradictions with equal protection rights under U.S. law and the logistical challenges individuals may face when trying to secure tax credits.
This episode provides insights into how the remittance tax, under the guise of targeting illegal immigrants, effectively broadens its reach, complicating financial transactions for many, and raising questions around citizenship taxation policies. Tune in to understand better these unfolding legislative changes and their far-reaching effects."
Popular Podcasts
NFL Daily with Gregg Rosenthal
Gregg Rosenthal and a rotating crew of elite NFL Media co-hosts, including Patrick Claybon, Colleen Wolfe, Steve Wyche, Nick Shook and Jourdan Rodrigue of The Athletic get you caught up daily on all the NFL news and analysis you need to be smarter and funnier than your friends.
On Purpose with Jay Shetty
I’m Jay Shetty host of On Purpose the worlds #1 Mental Health podcast and I’m so grateful you found us. I started this podcast 5 years ago to invite you into conversations and workshops that are designed to help make you happier, healthier and more healed. I believe that when you (yes you) feel seen, heard and understood you’re able to deal with relationship struggles, work challenges and life’s ups and downs with more ease and grace. I interview experts, celebrities, thought leaders and athletes so that we can grow our mindset, build better habits and uncover a side of them we’ve never seen before. New episodes every Monday and Friday. Your support means the world to me and I don’t take it for granted — click the follow button and leave a review to help us spread the love with On Purpose. I can’t wait for you to listen to your first or 500th episode!
Dateline NBC
Current and classic episodes, featuring compelling true-crime mysteries, powerful documentaries and in-depth investigations. Follow now to get the latest episodes of Dateline NBC completely free, or subscribe to Dateline Premium for ad-free listening and exclusive bonus content: DatelinePremium.com