EL PASO, Texas (Border Report) – The money that individuals working abroad send to their families in Mexico fell for a third month this year.

And some fear further, possibly catastrophic declines in this vital source of income for the Mexican economy if the U.S. Senate approves the 3.5 percent tax on remittances the House green-lit in its version of the One Big Beautiful Bill Act.

Bank of Mexico (Banxico) data released this week shows Mexican families received $4.76 billion in wire transfers, checks, money orders and cash from abroad in April. That’s more than a quarter-of-a-billion-dollar decline from the $5.14 billion received in March, Banxico reports.

It also represents a 12.1 percent year-over-year decline – the biggest dip since September 2012. Mexico last year received $64.7 bill

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