BY ELIZABETH ALBARRÁN
AND ELIZABETH MARTÍNEZ
The News
Legislators in the ruling Institutional Revolutionary Party (PRI) and the opposition Democratic Revolution Party (PRD) announced an agreement Tuesday to approve an economic package that includes a revenue law, the 2014 federal budget and several modifications to President Enrique Peña Nieto’s tax reform proposal.
Mexico City is set to receive federal funding for infrastructure development on par with state governments for the first time.
Mexico City will also receive resources from the Social Infrastructure Support Fund (FAIS) for the first time, though the amount must still be specified by the Chamber of Deputies.
Mexico City Mayor Miguel Ángel Mancera said this is a historic announcement, as his party, the PRD, has been calling for its inclusion in the program for years. He said the money would be used to improve the city’s subway system.
The modifications establish that Peña Nieto’s proposed universal pension would not affect already-existing pension plans established by state governments.
Under the new proposal, all 31 states and Mexico City would be allowed access to a fund that would rebate taxes paid directly to the federal government. This would apply only to taxes that are currently paid to state governments.
At the request of the Green Party (PVEM), it was also agreed to not apply a Value Added Tax (VAT) to soccer matches and bullfights.
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