Wednesday, October 28, 2009

News Summary for October 28th, 2009

++ The Senate Finance and Legislative Committees approved, in general terms, the new Law on Special Tax on Production and Services, although they put off debating the three percent tax on telecommunications.

The law includes increases to taxes levied on alcoholic beverages, beer, tobacco and games and lotteries. The committees also approved a new fiscal system for Petróleos Mexicanos.

++ PRI Senate caucus leader Manlio Fabio Beltrones said the percentage point increase to value added or sales tax, the IVA, could be corrected by the Senate or could be an issue that could be discussed to launch true in-depth fiscal reform.

++ Lack of accords in the Senate on the 2010 fiscal package sent the Mexican Stock Exchange plunging … It fell 3.19 percent, its 10th largest drop this year.

++ The PRD accused the Finance Secretariat of unfairly holding on to federal apportionments for states, to use them as a way to pressure governors to gain their support for the fiscal package.

++ Coparmex accused political parties to be an obstacle for the country’s advancement… Coparmex urged politicians to move forward in political reform to allow for reelection of deputies, senators and mayors.

++ Mexican Electricians Union treasurer Alejandro Muñoz, a political rival of union leader Martín Esparza Flores, went to the Interior Secretariat to request conversations be resumed.

++ IFE was unable to prove that the money Carlos Ahumada gave to René Bejarano was used by the PRD in the 2003 federal campaigns… IFE will therefore annul the PRI’s complaint that the PRD violated electoral law in 2003.

++ Speaking in Guatemala, President Calderón said organized criminals are the main perpetrators of abuses and human rights violations involving Central American victims.

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