Latin Times reports that Mexico rejects a 5% tax on remittances, which is apparently in the big, beautiful bill. They think it is discriminatory, aka racist.
Mexican President Claudia Sheinbaum called the Republican initiative to impose a 5% tax on some remittances discriminatory. All Mexican parties agree.
“Everyone from all parties said no. We are not in agreement with this injustice, which is discriminatory,” Sheinbaum said. “All Mexicans over there pay taxes, whether they have documents or not,” she added, referring to their immigration status.
A Senate commission joined the criticism, highlighting Mexicans’ contributions to the U.S. economy in an open letter and calling on lawmakers to build bridges rather than “raising economic walls.”
This is money often earned off the books or reported in such low amounts that it is not taxed. The people who send remittances usually take jobs from Americans. Remittances likely include the money criminal aliens acquire.
Such a move would probably discourage migration.
The proposed tax, part of President Donald Trump’s “big, beautiful bill,” would impose a 5% tax on such transfers and be aimed at people who are not U.S. citizens. The Associated Press explained that those affected would include over 40 million people, including green card holders and nonimmigrant visa holders.
Sheinbaum also said imposing the tax “would damage the economies of both nations and is also contrary to the spirit of economic freedom that the U.S. government claims to defend.” According to Bloomberg Linea, over $65 billion reached the country as remittances last year, representing about 4% of the country’s GDP.
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