Texas Border Business
Texas Border Business
June 30, 2025, | Mexico City – President Claudia Sheinbaum announced on Monday morning that the Mexican government will assist individuals who send money to Mexico from the United States if they are affected by a new tax.
At her daily press conference, known as La Mañanera, Sheinbaum discussed a new U.S. proposal to impose a 1% tax on cash sent from the U.S. to other countries, including Mexico. She explained that this tax would not apply to money sent electronically, only to cash.
The original plan in the U.S. was to set the tax at 5%, but the House of Representatives changed it to 3.5%. Now, the U.S. Senate has brought it down to 1%, but only for cash transfers.
Sheinbaum said this change is thanks to the efforts of Mexicans living in the U.S., many of whom wrote letters to American lawmakers. “That success is because of our people,” she said. “Especially those with dual citizenship who sent letters to senators.”
The tax is part of a hefty bill being discussed in the U.S. Senate, known as Donald Trump’s “One Big, Beautiful Bill.” The bill hasn’t passed yet, but if it does, the tax would only apply to cash remittances, not to money sent through apps or banks.
President Sheinbaum pointed out that most people send money electronically—about 99% of remittances to Mexico, according to the Bank of Mexico—so very few people would be affected by the tax.
But for the small number of people who still use cash, Sheinbaum said the government will offer a refund. “This Friday, we’ll announce a special program to refund that 1% tax,” she said. The refund will be made through the Finabien card, a government financial card used by many Mexicans.
| What You Need to Know: |
| • The U.S. may tax cash transfers to Mexico at a rate of 1%. |
| • Electronic transfers (used by almost everyone) will not be taxed. |
| • Mexico will refund the 1% tax for people who send money in cash. |
| • More details will be announced this Friday. |
