The proposed transfer tax by 3.5 % on the money sent from the United States to non -citizens abroad was sent shock waves through countries that depend on international transfers.
Part of the “Big Birity Bill” law, which currently highlights the US Senate, will affect the tax between 40 to 50 million non -musicians in the United States, including illegal immigrants as well as green and visa cards, with those from India, Mexico, China and the Philippines who have been particularly exposed. Some experts suggest that the effect will be sufficient to send Mexico’s economy to this year.
Mexican President Claudia Shinbum described the bill as “unacceptable” and pledged to negotiate with the United States. “We don’t want to be a tax,” she said at a press conference. “We will continue to work, so there is no tax on the transfers that our citizens send to their families in Mexico.”
More than 80 % of transfers from the United States to other countries for consumption are used, especially grocery stores, health, housing and education; Any tax will negatively affect the economy of the future country. A report issued by the dialogue between the Americans warned that the tax could lead to a 7 % decrease in transfers, trade effect, increase immigration, and reduce control of foreign exchange transfers.
Latin America and the Caribbean region received $ 160.9 billion of transfers in 2024, as Mexico alone represented 64.7 billion dollars. In the Northern Triangle of Central America of El Salvador, Guatemala and Honduras, intensively represented among people who have no entry documents, transfers constitute 20 % to 27 % of national gross domestic product. The tax will cost the three countries about $ 2 billion annually, based on 2024 numbers.
Honduran Foreign Minister Antonio Garcia described the tax as a “cold water bucket” for migrants in Honduran.
The Caribbean governments indicated that the bill threatens to reduce international dollars reserves. This was a long -term problem in the area and some of the credit card exporters pushed to less than $ 100 for new applications.
Until September 30, the draft law has the passage and may face legal opposition over the provisions that affect weak societies and international treaties. Supporters suggest that the tax gives the United States a segment of the estimated transfer industry of $ 905 billion. The transfer tax will not be unprecedented. Oklahoma imposed the first country tax on international transfers – 1 % on every $ 500 sent – in 2009.
