from the Daily Caller:
CENTRAL AMERICAN MIGRANTS ARE SENDING BILLIONS BACK TO THEIR HOME COUNTRIES
Foreign nationals from three Central American countries that send some of the highest numbers of illegal immigrants to the U.S. are sending back a record amount of money to their home countries.
Immigrants from Guatemala, El Salvador and Honduras sent back a record $120 billion in remittances this decade, according to an immigration expert who spoke to the Washington Examiner using U.N. and Latin American banking statistics. The numbers are expected to keep rising, with immigrants from these three nations having sent $17 billion in 2018 alone, and Central American bank data indicates that the trend will keeping going.
“The sums of money involved are huge, particularly as a share of GDP and personal income in the Central American countries,” Jessica Vaughan, an immigration expert with the Center for Immigration Studies, said to the Examiner. “It offers a big clue as to why these countries are giving only token efforts to stem the tide of migrants to the United States, especially El Salvador and Honduras.”
The issue of remittances — money sent to the home countries of immigrants living and working in the U.S. — has remained a hot topic of debate. U.S. lawmakers have, in the past, proposed legislation that would tax remittances.
One proposal that did not make it through Congress would have taxed these payments at seven percent. If such a tax was levied on the $138 billion all immigrants sent in remittances in 2016, the revenue would have paid for President Donald Trump’s border wall within three years’ time.