Actions taken to shut down illegal crossings of the U.S.-Mexico border, mass deportation operations across the country, and an unprecedented increase in ICE worksite enforcement operations are the likely cause of a more than $250 million drop in money sent to Mexico in April. The amount sent by Mexican citizens to their home country is the most significant drop in twelve years, according to Banco de México.
The April report published by Banxico.org, which tracks and analyzes remittances, shows a sharp reduction in electronic wire transfers and money orders when compared to the previous month. Mexican President Claudia Sheinbaum addressed the drop in remittances during a Tuesday morning press conference where she urged citizens to remain calm as officials analyze why the remittances to her country have dropped precipitously.
During the daily press conference, Sheinbaum announced a delegation of officials would travel to the United States to address a proposed 3.5 percent tax on remittances to Mexico found in the “Big Beautiful Bill” budget reconciliation legislation. The tax contained within the legislation could result in revenue to the U.S. of more than $2 billion annually, based on more than $60 billion in remittances sent to Mexico in 2024.
The total remittances to Mexico, however, may continue to fall based on the increased immigration enforcement operations taking place nationwide. As reported by Breitbart Texas, ICE is conducting worksite enforcement operations across the country in multiple industries.
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