Mexico Congress Panel Advances Tax Bill as Junk Food Duty Added Bloomberg News
go to original October 17, 2013

Mexico’s lower house finance committee approved a bill to raise taxes as President Enrique Pena Nieto’s party joined forces with the opposition Democratic Revolution Party to advance the legislation to the full chamber.

The committee voted 30-12, with one abstention, to approve a modified version of Pena Nieto’s proposal, increasing the top income tax rate to 35 percent and stripping out sales taxes on private education tuition, mortgage interest and home rentals. Lawmakers added a 5 percent tax on high-fat foods, according to a draft of the bill. The bill could get a vote in the full lower house as soon as today.

Lawmakers from the National Action Party, the biggest opposition group in Congress, opposed the bill after Pena Nieto’s Institutional Revolutionary Party, or PRI, refused to drop its plan to increase the sales tax in states that border the U.S., including traditional strongholds for the party known as PAN. A higher tax rate for top earners and duties on high-fat foods were proposals pushed by the Democratic Revolution Party, or PRD, the second-largest opposition group.

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