Mexico Cheers as US Cuts Remittance Tax

Mexico Celebrates US Remittance Tax Cut: Sheinbaum and Ambassador React Mexico is celebrating a significant win for its citizens living abroad. The United States House of Representatives recently passed a bill reducing the tax on remittances sent to Mexico from 5% to 3.5%. This development has been met with enthusiasm by both the Mexican government and its citizens. Mexican Ambassador to the US, Esteban Moctezuma Barragán, took to Twitter to express his delight, calling it "good news" and a crucial step in supporting the Mexican economy. President Claudia Sheinbaum echoed this sentiment in a press conference, emphasizing the importance of the reduction and the ongoing efforts to eliminate the tax altogether. She stated, "We don't want any tax on remittances sent by our countrymen." The bill, however, is not without its complexities. While the tax cut is a positive development, the same legislation also includes provisions for strengthened border security, a point that is sure to spark further debate. The bill now moves to the Senate for further consideration. The reduction in remittance taxes is a significant step towards easing the financial burden on millions of Mexican families and represents a moment of positive collaboration between the two nations.