Ignacio Mier credits the 4T with reducing the tax on remittances in the US.

MEXICO CITY (apro).- Morena's deputy coordinator in the Senate, Ignacio Mier, affirmed that the reduction of the tax on remittances to migrants in the United States Congress was a joint achievement of the Mexican government.

The Morena senator described the negotiation process carried out by the Mexican government and the Senate's plural delegation with the United States Congress to modify the budget affecting remittances as a success.

"We did our job, the Mexican Embassy did, we worked together. It was surprising for the U.S. congressmen and for the U.S. State Department that a full delegation was there, amidst the differences and debate over many laws in Mexico with the opposition, that we came together, coordinated, the Mexican government, the Mexican Congress, to negotiate this agreement. It was of great significance," he stated.

The senator from Puebla also expressed his gratitude for the support provided by migrant organizations and the Latino community in the United States, which helped raise awareness among U.S. senators about the impact a 5 percent tax on remittances would have on both nations.

He recalled that this initiative proposed a 5% tax on remittances, which would represent $3.7 billion and affect entire regions in 10 states, with a particular impact on 39 municipalities in Puebla.

"The tax was reduced to 1 percent and only for cash deposits, freeing up the 99 percent of electronic transfers. The Mexican government, through the Welfare Financing Card and the network of consulates, will offset this 1 percent," said the Morena senator from Chignahuapan, Puebla.

"It will truly be a minimal amount, and the Mexican government will be able to use it in its budget, without taking anything away from social programs or other activities, because it will be around 118 million pesos. It's no longer that monstrous amount of more than 65 billion pesos, which was equal to the budgets of, for example, Baja California or Tlaxcala," he emphasized.

Finally, Ignacio Mier said that this has helped the Mexican economy, as the peso is doing very well against the dollar, continuing to strengthen, and direct investment in Mexico is increasing.