Latest news with #Orozco
Mint
3 days ago
- Business
- Mint
Taxing the money immigrants send home would hurt economies here and abroad
A proposed new tax from the Trump administration would slow the flow of money that U.S. immigrants send home to their families, and that has economic implications at home and abroad. Remittances from the U.S. to Latin America totaled an estimated $160.9 billion in 2024, according to the latest research from the Inter-American Development Bank Migration Unit. Those remittances not only generate transaction fees for the largely American financial institutions that execute the payments, but they also make up between roughly 20% to 30% of gross domestic product growth in countries like El Salvador, Guatemala, Haiti, Honduras, Jamaica and Nicaragua. President Donald Trump's budget, which recently passed the House of Representatives, included a 3.5% tax on all remittance transfers made by noncitizens to accounts outside the country. That would be a double tax on many immigrants who have already paid income tax on the funds they send to family and friends abroad. 'Remittance growth from the United States could fall to half of what it was in 2024," estimates Manuel Orozco, director of the migration, remittances and development program at the Inter-American Dialogue, a think tank that aims to boost democratic resilience and shared prosperity in the Americas. In addition to the proposed remittance tax, the U.S. is experiencing slowing migration and increased deportations. Both trends could reduce the number of foreign-born individuals in the U.S., thereby also diminishing the population sending remittances home. The slowing migration trends in effect since 2023 are expected to continue this year. Morgan Stanley economists estimate that immigration will slow to 800,000 this year, down from 1 million new arrivals in 2024. That is expected to drop to just 500,000 in 2026. Deportations are also set to rise. The Department of Homeland Security reported 152,000 deportations during the first hundred days of the Trump administration. And the Supreme Court ruled last week that the Trump administration could end temporary status granted by the Biden administration to 532,000 people from Cuba, Haiti, Nicaragua and Venezuela. Remittances are a key form of support for many countries. Honduras, for example, received $9.8 billion in remittances from the U.S. in 2024, according to Orozco. The country was on track to experience 7% growth in remittances in 2025, but with the proposed tax and the projected declines in immigration, Orozco expects that the country will actually see a 9% decline instead. El Salvador is projected to experience an 8% decline, while remittances to Guatemala and Nicaragua could be down by 7%. Haiti is expected to see a 3% drop. A drop in remittances could lead to lower domestic incomes and consumer spending, as well as potentially expanding deficits, writes William Jackson, chief emerging markets economist at Capital Economics. The reduction in consumer spending could occur in the U.S. as well. Migrants typically send 15% of their remittances abroad, but that means about 85% of their incomes remain in the U.S. Last year, immigrant households held $1.7 trillion in spending power, according to data from the American Immigration Council, a nonprofit that aims to shape immigration policies. Undocumented immigrants, specifically, had about $299 billion in spending power. But if the cost of remittances increases, generally the income spent in-country tends to shrink as well, says Ananya Kumar, deputy director for future of money at the GeoEconomics Center. So this issue does affect consumer spending levels in the U.S. as well. Even countries with large economies could feel the impact of lower payment flows. U.S. remittances to Mexico—which Mastercard's research has found to be the 'single largest remittance pipeline in the world"—totaled $67.7 billion last year, according to BBVA research. India and the Philippines also rank high in remittance flows. The remittance tax would be on top of the high transaction fees that already exist when sending money across borders. Last year, the average cost of sending money from the U.S. was 6.03% during the third quarter, according to the World Bank's quarterly report. It can be challenging to determine the effects of a tax on remittances because many times these payments go underground if taxed. That makes this a 'slippery tax space," says Alan Cole, senior economist with Tax Foundation's Center for Federal Tax Policy. That could make it more difficult to administer and collect the projected tax revenues, but could also increase cartels' power as payment brokers. 'There's a U.S. national security interest in wanting to not create more friction from remittance payments," Kumar says. Americans need to stop viewing remittances as a 'burden" on the U.S. economy, but instead, should start viewing it as something that accrues advantages abroad, she adds. Write to Megan Leonhardt at
Yahoo
28-04-2025
- Business
- Yahoo
AGS Appoints Arthur Rotziokos and Richard Orozco to Lead International Growth Efforts
LAS VEGAS, April 21, 2025 (GLOBE NEWSWIRE) -- AGS (NYSE: AGS), a leading supplier of high-performing slot, table, and interactive products and services to the global gaming industry, today announced two key appointments that will significantly strengthen its international operations. Arthur Rotziokos has been appointed as the Senior Director of Product Management – Asia-Pacific (APAC), and Richard Orozco has assumed the role of Senior Director of Product Management - International. Both report to Rob Ziems, AGS' Chief Business and Legal Officer, who oversees international business. "With tremendous growth potential and plenty of greenfield in international markets, AGS is well-poised to seize new opportunities on the global stage. Both Arthur and Richard bring unparalleled expertise and a deep well of gaming industry experience that will be vital to AGS' global expansion strategy. Their leadership will be instrumental as we accelerate our international reach and advance our product offerings in these key markets," said Rob Rotziokos, based in Sydney, Australia, will lead AGS' entry into the rapidly expanding APAC market. With over three decades of experience in the gaming industry, including his most recent role as Vice President of Research & Development at Light & Wonder, Rotziokos is well-positioned to drive AGS' strategic expansion across the region. His career spans roles at leading companies such as Ainsworth Game Technology and IGT, where he developed strong industry relationships and pioneered game development initiatives that led to business growth in global Orozco, an experienced leader in international product management, will oversee AGS' global product strategies, focusing on regions such as Latin America and Europe. Orozco joins AGS with extensive experience in managing product portfolios across international markets, including his most recent role as Vice President of Product Strategy at Ainsworth Game Technology. In his new role, he will work to drive market performance, optimize product lifecycles, and strengthen AGS' market share in key international territories. With both Rotziokos and Orozco taking on pivotal roles, AGS is poised to build its brand and gain a foothold in key international markets, further enhancing its commitment to delivering cutting-edge gaming products and solutions to operators and players worldwide. About AGSAGS is a global company focused on creating a diverse mix of entertaining gaming experiences for every kind of player. Our roots are firmly planted in the Class II Native American gaming market, and our customer-centric culture and growth have helped us branch out to become a leading all-inclusive commercial gaming supplier. Powered by high-performing Class II and Class III slot products, an expansive table products portfolio, real-money gaming platforms and content, highly rated social casino solutions for operators and players, and best-in-class service, we offer an unmatched value proposition for our casino partners. Learn more at AGS Media Contact:Julia Boguslawski, Chief Marketing OfficerNikki Davis, Director, Marketing & CommunicationsPR@ AGS Investor Contact:Brad Boyer, Senior Vice President of Corporate Development & Capital MarketsInvestors@ ©2025 AGS LLC. All® notices signify marks registered in the United States. All ™ and ℠ notices signify trademarks, which are not registered on any country-wide basis. Products referenced herein are sold by AGS LLC or other subsidiaries of PlayAGS, Inc. Photos accompanying this announcement are available at: This press release was published by a CLEAR® Verified in to access your portfolio
Yahoo
19-04-2025
- Health
- Yahoo
‘I love doing what I do': Emporia police officer awarded for two life saving efforts
EMPORIA (KSNT) – The Kansas Association of Chiefs of Police recently recognized an Emporia police officer for using CPR and the Heimlich maneuver just days apart. Emporia Police Department (EPD) Officer Martin Orozco received the silver award on Wednesday, April 16. He says he's grateful he had the training to be able to step in when needed. He says while he appreciates the recognition, he's here to help people and serve his community. Kansas Turnpike bridge damaged in semi-truck crash, repairs underway 'I didn't get into this job to get recognized for the things we do,' Orozco said. 'I love doing what I do, so it's crazy and amazing to see how much support I get and our department gets.' Orozco stresses the importance of people knowing basic CPR and Heimlich techniques. For more local news, click here. Keep up with the latest breaking news in northeast Kansas by downloading our mobile app and by signing up for our news email alerts. Sign up for our Storm Track Weather app by clicking here. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
CBS News
18-03-2025
- CBS News
North Texas man wanted for 2009 Garland murder caught in Mexico, authorities say
A murder suspect who had been on the run for the last 16 years was taken into custody in Mexico in a coordinated effort between the FBI and Mexican authorities, officials confirmed Tuesday. Cesar Pascual Orozco, 40, was wanted in the March 14, 2009, fatal shooting of 26-year-old Joe Castillo in Garland, police said. According to police, Castillo was found lying dead in the street from multiple gunshot wounds. Witnesses reported seeing Orozco drop off his child, walk to his car and then approach Castillo. After a "brief exchange of words," Orozco allegedly shot Castillo and fled before officers arrived, according to a Garland PD press release. A murder warrant was issued for a then 24-year-old Orozco, who was last seen driving a black Chrysler 300 with paper tags, police said. Now, 16 years later, the Garland Police Department is working with federal and international partners to facilitate Orozco's extradition. "We want to thank our federal and international partners for their dedication to bringing Orozco to justice," Garland PD said in a press release.
Yahoo
18-03-2025
- Politics
- Yahoo
Families impacted by ICE raids denounce Trump administration's arrests, file emergency motion
The U.S. Immigration and Customs Enforcement unlawfully arrested and violated the rights of 21 immigrants and a U.S. citizen during raids in the Chicago area and other Midwestern states during the first days of the second Trump administration, advocates and attorneys said Monday. The National Immigrant Justice Center and the American Civil Liberties Union of Illinois filed a motion in Chicago's U.S. District Court Thursday seeking the release of two people still detained and the enforcement of remedies to prevent unlawful arrests by ICE. According to the motion, Abel Orozco, a 47-year-old father from southwest suburban Lyons with no criminal record, and Julio Corona, from Liberty, Missouri, are still detained. 'Most of the people that were arrested were leaving for work in the morning,' said Mark Fleming, the associate director of NIJC's Federal Litigation Project. 'I ask that every time you hear from this administration about how they're rounding up gangbangers, terrorists, you need to take a dose of reality and realize that you need to dig deeper to understand who exactly they are.' According to the plaintiffs' legal team, ICE agents made warrantless arrests, often using violence and intimidation in the Chicago area and across the Midwest, including on Julio Noriega, a U.S. citizen who ICE officers detained for more than 10 hours in late January and then released without documenting the arrest. According to the court filing, ICE carried out practices that violated a 2022 federal court settlement that aimed to protect immigrant rights and curb aggressive enforcement tactics in Illinois, Indiana, Kansas, Kentucky, Missouri and Wisconsin. The motion calls for the release of Orozco, a father who has remained detained despite the alleged settlement violations. Along with Orozco, nine others were arrested under similar circumstances — often with no warrants and little to no probable cause, according to the attorneys representing the plaintiffs. They also highlight a single incident in Liberty, Missouri, in which 12 people were arrested at a restaurant without proper documentation. A spokesperson for ICE said the agency 'does not provide comments on litigation proceedings or outcomes.' The court filing demands the immediate return of bonds and the lifting of any conditions of release that have been placed on the 19 people who have been released. In addition, the group is asking for training and remedial measures against ICE agents who the plaintiffs argue violated the settlement. NIJC and the ACLU of Illinois are also seeking a report from the court detailing all immigration arrests made since Jan. 20 and weekly updates moving forward to monitor ICE's practices in the Chicago area. Orozco's wife, Yolanda Orozco, stood behind a crowd. She repeatedly said her husband is not a criminal and called for his release. Yolanda Orozco, a mother, is battling breast cancer and is behind on mortgage payments, she said. 'Is it a crime to wake up early and go to work every day?' Yolanda Orozco asked. On Jan. 26, Orozco was on his way home from buying tamales for the family when ICE agents encountered him in his truck. According to the complaint, ICE was looking for one of his sons who is in his 20s and has the same name. Upon seeing Orozco's driver's license, the officer reached inside Orozco's car and unlocked and opened the door. He then grabbed Orozco's arm and told him he was under arrest, according to the complaint. Another one of their sons, Eduardo Orozco, captured his father's arrest on a video that went viral. In the video, he followed the agents around his yard and demanded a warrant for his father's arrest. Instead, they drove away. 'He just goes to work and comes back to his family. He is loving, he is caring, he is responsible, and he should not have been arrested,' Eduardo Orozco said. 'I just want to ask the government to please look into who he is so they can do what's right.' Orozco has been in the country for over 27 years, mostly dedicated to his family and his business, according to his son. Like most of the 22 people represented, Orozco has no criminal record, Fleming said. Some have traffic violations and one has a DUI, but no one has other convictions, he added. According to the 2022 settlement, ICE is not allowed to make a warrantless arrest unless it has probable cause both to believe that immigrant is unlawfully in the United States and to believe the immigrant is likely to flee before a warrant can be obtained. The settlement also says that to pull over a vehicle, ICE officers must have a reasonable suspicion that a person in the vehicle is unlawfully present, and they must not pretend to enforce traffic laws. If a person is arrested in violation of the settlement agreement, they must in most circumstances be released from detention without having to pay bond and without conditions of release, according to Rebecca Glenberg, chief supervising litigation counsel at the ACLU of Illinois. Orozco remains detained in Clay County, Indiana. The ongoing legal battle over ICE practices comes as immigrant communities brace for more uncertainty under the Trump administration. Community organizers and legal advocates expressed their outrage at ICE's alleged disregard for legal processes and constitutional protections. Xanat Sobrevilla, an organizer with Organized Communities Against Deportations, urged the community to stay alert and report any arrests. 'It's clear that ICE policies have little effect in preventing harm in our communities. We cannot trust internal ICE procedures to uphold people's rights,' Sobrevilla said. Fred Tsao, senior policy counsel at the Illinois Coalition for Immigrant and Refugee Rights, said, 'Whenever this administration violates these basic rights, we must call them to account.' As the court case unfolds, immigrant communities and their allies said they are determined to fight for justice, holding the Trump administration accountable for what they describe as unlawful and inhumane enforcement actions. 'Based on the dozens of cases we've reviewed, most of these individuals are hard-working people who have built lives in the U.S. and contribute to their communities. They're not threats to public safety,' Fleming said. larodriguez@
