Here’s the latest on what’s in the bill. There could be changes as GOP lawmakers continue to negotiate. Republicans say the bill is crucial because there would be a massive tax increase after December when tax breaks from Trump’s first term expire. The legislation contains about $4.5 trillion in tax cuts.

Dubey told Newsweek that many wealthy Indian immigrants split their financial assets, with roughly 70 percent staying in the U.S. and 30 percent going back to India. Since the first proposal of a remittance tax, there has been a steady outflow of money from the U.S. as immigrants look to avoid taxation at a later time when they head home for good.