President Pena Nieto Proposes Social Program Changes, Including First National Pensions Mark Stevenson - Associated Press
go to original September 9, 2013

President Enrique Pena Nieto's wide-ranging reform plans were unexpected (Henry Romero/Reuters)

MEXICO CITY — President Enrique Pena Nieto proposed sweeping changes to Mexico’s social programs Sunday, laying out a plan for the country’s first nationwide pensions and unemployment insurance to be financed in part by cutting tax loopholes for big business.

Pena Nieto’s proposal had originally been billed as solely an overhaul of the tax system, and it would cut most of the industry-specific tax loopholes written into Mexico’s tax codes over decades.

But in his announcement, Pena Nieto went much further. He proposed the country’s first carbon tax on fossil fuels used by industry, a levy often touted as a way to combat climate change. He also called for a tax on soft drinks, which he said is needed to combat Mexico’s high rate of obesity.

“The tax reform is a social reform,” Pena Nieto said in a speech at the presidential residence announcing the plan.

Read the rest at NBC Latino

We invite you to add your charity or supporting organizations' news stories and coming events to PVAngels so we can share them with the world. Do it now!