NewsLatin AmericaThe deputies approve without changes the Income Law for next year

The deputies approve without changes the Income Law for next year

After a parliamentary debate of several hours where criticism reigned between deputies from the different benches, the Income Law for 2023 was approved this Thursday night, in general with 266 votes in favor and 212 against. proposes the collection of 8.3 billion pesos, mainly from the payment of taxpayers’ taxes. With the approval of this opinion, the Administration was authorized to contract and exercise credits for an amount of internal net indebtedness, up to almost 1.2 billion pesos for the following year. This debt ceiling represents 49.4% of GDP, an increase compared to the authorized debt in 2022, when the authorized indebtedness was equivalent to 48.4% of GDP. After the endorsement in general, the legislators continue in the legislative chamber discussing the more than 400 registered reservations.

Although in the discussion in the plenary session of San Lazaro, both the deputies of Morena and the opposition (PAN, PRI, PRD and Movimiento Ciudadano) disqualified each other, in the end, the latter were unable to make substantial changes to the proposal of income sent by the Executive on September 8. Legislators endorsed the Income Law in extremis a few hours before the deadline for approval expired. Despite adverse macroeconomic effects, such as the effects of the Russian offensive in Ukraine, the Ministry of Finance forecasts economic growth of 3% in Mexico by 2023, as well as an exchange rate of 20.6 pesos per dollar. In addition, the agency forecasts that inflation will slow down to 3.2%, although it is now above 8% at an annual rate, according to Inegi. Data from the Secretariat led by Rogelio Ramirez de la O contrasts with market expectations that place GDP at around 2%, while forecasts from various institutions point to inflation continuing above the Bank of Mexico’s target range of 3% next year.

The PAN bench shows posters with various data on inflation, salary and external debt, during the discussion of the Income Law.Galo Canas Rodriguez (Cuartoscuro)

During the discussion of the opinion, the opposition legislators emphasized that the Treasury figures, backed by the Morena legislators and their allies, were unrealistic and warned that it would be unrealistic to think that Mexico will exceed 8.3 billion in income alone. of taxes, without a fiscal reform and with a local oil production that, far from increasing, is in decline. In the case of oil revenues, it is expected that they will leave around 1.3 trillion pesos the following year, this through a production platform of 1.87 million barrels of oil per day, with a price of 68, 7 dollars per barrel.

The legislator of Movimiento Ciudadano, Mauro Garza, from Jalisco, took advantage of his time on the podium to criticize the emblematic works and programs of the Government of Lopez Obrador. “We cannot continue to maintain whims such as the flagship projects of this Government. For the following year there are no resources, they have already left the children without vaccines, we no longer have the resources without trusts, we have reached the fourth year of this six-year term with a government that condemns the past, but does not take care of building a future, ”he settled. the.

Deputy Carol Antonio Altamirano, secretary of the Budget Commission for Morena, indicated that with the approved income, pensions for the elderly, scholarships for students and support for people with disabilities will be guaranteed for the fifth consecutive year. Along these same lines, Pablo Amilcar Sandoval Ballestar, also from the ruling party, attacked the opposition legislators. “There will be no tax increase, even if it hurts the opposition. They do not have a proposal, they do not have an analysis, they do not have a majority and that is why they are going to lose this vote”, he concluded.

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