Mexico Scores Partial Win, but Remittance Tax Fight Continues

Mexico's Remittance Tax Fight: A Partial Victory? The US House of Representatives recently passed a bill that includes a 3.5% tax on remittances sent to Mexico. This is a significant reduction from the initially proposed 5%, causing mixed reactions in Mexico. While some officials celebrated the lowered rate, others maintained their calls for complete elimination. Mexican President Claudia Sheinbaum stated, "We will continue to negotiate with US lawmakers to completely remove this tax." This highlights the ongoing struggle for Mexico to protect its citizens' financial interests. The reduced tax still represents a substantial financial impact, estimated to cost Mexico around $20 billion annually. The battle now moves to the US Senate, where the final decision will be made.