Dominican Republic Fears US Tax on Remittances

Dominican Republic's PLD Party Condemns Proposed US Tax on Remittances The Partido de la Liberación Dominicana (PLD), a major political party in the Dominican Republic, has expressed serious concern over a proposed 3.5% tax on remittances from the United States. This tax is part of a comprehensive bill recently passed by the US House of Representatives. The PLD fears this will severely impact the Dominican economy, a nation where a significant portion of the population relies on remittances from family members abroad. "This measure represents a clear threat to the economic and social well-being of hundreds of thousands of Dominican families," stated a PLD spokesperson in a press conference shown in the video. The party is calling on the government to actively engage in diplomatic efforts to prevent the implementation of this tax. In 2024, the Dominican Republic received over $10 billion in remittances, with 85% originating from the US. A 3.5% tax on this substantial inflow of funds would represent a significant loss of income for many Dominican households, potentially pushing them further into poverty. The PLD argues that this tax is unfair and short-sighted, particularly given the vital role remittances play in supporting families and communities. The PLD's statement underscores the significant economic reliance on remittances in the Dominican Republic and the potential for widespread hardship if the proposed US tax is enacted. The party's call for diplomatic intervention highlights the urgency of the situation and the need for international cooperation to protect the financial well-being of migrant communities.