Who Will Pay for the Wall?
Who will pay for the wall? The campaign pledge President Trump made was to build the wall to effectively separate the US from Mexico. The price tag has varied as much as the wall has.The lowest price came in at $8 billion; now we are looking at $15 billion. The one issue that continues to causes problems is, “Who will pay for the wall?”
President Trump has said the proposed wall would be completly financed by funds from the Mexican Government. President Enrique Pena Nieto, Mexico’s head of state, along with his predecessors Felipe Calderon and Vicente Fox have made it clear that anything like this happening is pretty much zero.
Since there seems to be little support from Mexico, Trump will need to find a creative way to pay for the wall. He has basically offered three possible solutions to force Mexico to pay for the wall. The first of these is to place a tax on the billion of dollars worth of remittances sent to Mexico from persons living in the US. Many family and friends living in Mexico rely on this in-coming money, from people in the US to pay for their living expenses. In 2015 those living abroad sent $24.8 billion back to Mexico. A tax on this outflow of money could create a significant funding source for the wall.
A second possibility is to place a tax on goods from Mexico. Trump has said that charging an import tariff on goods entering the US, from Mexico, is another way the Mexican government can indirectly pay for the wall.
Another way for Mexico to pay for the wall is by eliminating foreign aid to Mexico. In 2013 Mexico received approximately $419 million in foreign aid from the US. This amount, according to Trump can be reduced or even eliminated.
The months ahead will decide the fate of the wall.