Remittance Tax Cut Celebrated by Mexico City Mayor

Mexico City Mayor Claudia Sheinbaum announced that the United States Congress has approved a reduction in the tax on remittances sent from the US to Mexico. The tax rate has been lowered from 5% to 3.5%. Sheinbaum expressed gratitude to Ambassador Esteban Moctezuma and the senators who worked to achieve this reduction. "We will continue working to ensure that there are no taxes on remittances sent by our compatriots to their families in Mexico," Sheinbaum stated in a press conference. This reduction is a significant development for millions of Mexicans who rely on remittances from family members in the United States. The ongoing efforts to completely eliminate the tax highlight the importance of remittances to the Mexican economy and the close relationship between the two countries.