Mexican senate gives general approval to government tax reform bill

Reuters

MEXICO CITY, Oct 29 (Reuters) - Mexico's Senate on Tuesdaygave general approval to a package of measures aimed at boostingthe country's weak tax revenues including higher tax for therich, levies on sugary drinks and junk food, as well as a chargeon stock market gains.

Senators must now vote on elements of the bill thatopposition lawmakers want struck down or changed. If any ofthose reservations are upheld and the bill is changed, it wouldneed to be returned to the lower house of Congress where themodifications would be voted on.

A key plank of President Enrique Pena Nieto's reform agenda,the bill was approved by lower house lawmakers earlier thismonth after they revised it to cut plans to apply sales tax torents, mortgages, property sales and school fees.

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