A Mexican Senator voted against the country’s Revenue Law of 2017 due to an increase in the nation’s debt.
Senator Víctor Hermosillo, a Mexicali member of the National Action Party, said Mexico’s government included on the legislative package a loan of 602 billion pesos or $33.4 billion which will impact national finances and equals half of the Mexican Gross Domestic Product.
“The country is not growing, pensions are a time bomb and are already bringing the first signs of alert by increasing 100 billion pesos each year,” he said. “Congressmen increased budget in 59 billion pesos, but a part of that will be disbursed for their personal benefit and for each of them receives an amount to keep the terrible and infamous custom of the ‘moches.’”
In Mexican slang, moche means a percentage paid to lawmakers who approve projects in their home states.
Sen. Hermosillo said expenditures keep growing and the government does not tight its belt, including the Legislature.
“We made a proposal to decrease the Senate’s spending that, of course, will be voted down. We also proposed another measure to reduce public funds to political parties that is also going to be rejected,” Sen. Hermosillo said. “If we are expecting a fairy comes and increase the price of oil, it is a very difficult thing to happen.”
The Mexican lawmaker added that citizens are disappointed of their government and tired of corruption, and that every day it is more difficult to make business due to the high tax rates.
