Mexico Pledges Strong Defense Against Proposed U.S. Remittance Tax
(MENAFN) Mexico's Foreign Minister Juan Ramon de la Fuente announced Friday that the nation will mount its "the best political and legal defense" against a recent U.S. proposal to levy an additional tax on money transfers sent from the United States.
De la Fuente explained that the initiative was presented to the U.S. House Ways and Means Committee on May 12, the body responsible for tax legislation. He asserted that the measure "has no reason to exist" and would directly affect millions of Mexicans residing in the United States.
Following instructions from Mexican President Claudia Sheinbaum, a letter of rejection was dispatched to U.S. lawmakers the next day. The letter was signed by Esteban Moctezuma, Mexico's Ambassador to the United States, and Roberto Velasco, head of the foreign ministry's North America department.
De la Fuente further stated that the proposal targets individuals who already make substantial contributions to the U.S. economy, many of whom have already paid taxes.
Remittances from the United States are a crucial financial lifeline for numerous families in Mexico.
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