EconomyAfter more than 12 hours; deputies approve Income and...

After more than 12 hours; deputies approve Income and Rights 2023 laws, pass to the Senate

The vote on the 2023 Economic Package advances with the approval of the opinions for the Federal Income Law (LIF) and the Federal Law of Rights in the Chamber of Deputies , and now the Senate must analyze, discuss and vote on these laws before the October 31, first in committee and then in plenary.

The opinion of the LIF was approved in general and in particular after more than 9 hours of discussion in the plenary, and stopping the legislative clock, since the deadline for its approval in Deputies was October 20.

With 271 votes in favor; 201 votes against and one abstention was voted on the opinion for the LIF 2023, with the modifications accepted by the plenary, in which public revenues are established for 8.3 billion pesos (bp), with an estimate of growth of 3% for the GDP, and where the creation of new taxes is not contemplated, nor increases to those in force.

Of the total income; 4.6 bpd will come from taxes; 470.845 million pesos for social security fees and contributions; 35 million pesos for contributions of improvements; 57,000 million pesos for Rights; 6,543 million pesos for Products; 173,554 million pesos for Exploitations; 1.3 bop for income from sales of goods, provision of services and other income; 487,742 for Transfers, Assignments, Subsidies, and Pensions and Retirements; and 1,176 bp for income derived from financing.

During the positions of the Parliamentary Groups, the deputy Beatriz Dominga Pérez López (Morena) indicated that the principles of tax policy in the country for four years have been to protect the household economy and give certainty to the business sector.

“The law establishes a growth of a cheerful 3%, when Banxico, the central bank itself says that it will be 1.2%, this erroneous estimate, compañeras and compañeros, will translate into higher inflation,” warned deputy Gerardo Piña Flores (PAN), who stressed that, if the law is approved in its terms, it will lead to a stagnation in the economy.

“We are deeply concerned about the calculations made to this Income Law,” said Deputy Jericó Abramo Masso (PRI), who called for firm and clear action to establish a strategy for the benefit of various sectors of the country, such as small producers.

From the PVEM, deputy Gilberto Hernández Villafuerte clarified that public investment will continue to be promoted with projects that allow the economy to be more dynamic, such as the Mayan Train that will connect the Mexican southeast with the rest of the Mexican Republic.

Bill of Rights 2023

Previously, with 270 votes in favor; 217 votes against and one abstention, the deputies approved the proposal for the Federal Rights Law 2023 sent by the federal government, through the Ministry of Finance and Public Credit (SHCP).

The Federal Law of Rights is a fiscal order that establishes the collection of rights for the provision of public services or for the use, enjoyment or exploitation of the nation’s public domain assets, which requires constant adjustments in relation to changes and requisitions of the dependencies that provide the services

The opinion determines fees and payments in consular, migratory, customs, educational, cultural, aeronautical, railway and maritime matters, as well as the provisions for the use or exploitation of the federal maritime land zone and the radioelectric spectrum.

Now both opinions will go to commissions in the Chamber of Senators, they must be analyzed, discussed and voted on before October 31, with the aim of advancing with the analysis, open parliaments, discussion and voting of the Expenditure Budget of the Federation (PEF) in the Chamber of Deputies.

Mexico will have 1.29 billion pesos of income via debt in 2023

According to Gabriel Yorio, Undersecretary of Finance, the amount is in line with the goal of maintaining debt as a percentage of GDP in a constant and stable manner.

LAST MINUTE: Income and Rights laws for 2023 are approved in Congress

Without changes to the opinions sent by the Chamber of Deputies, the senators voted in favor of the Federation Income Law and the Federal Law of Rights, budget is missing.

LAST MINUTE: The Income Law and the Law of Rights 2023 pass to the...

The Treasury and Legislative Studies commissions voted in favor of the opinions of both laws to be discussed and voted on in the upper house on Tuesday.

LAST MINUTE: Treasury rules out a 20% depreciation of the peso against the dollar...

Undersecretary Gabriel Yorio considers that the consultant's estimate is "exaggerated" and that these levels would not be reached in one or two years.

Public savings run out

The Treasury has increasing difficulties in obtaining resources and the lifeline of public finances is beginning to run out.