International
Chilean President abandons his fiscal reform and presents new proposal
August 2|
Chilean President Gabriel Boric said on Tuesday that his government will not insist on a rejected tax reform bill and will promote new initiatives to raise the necessary funds to address some of its promised social proposals.
In June, the leftist ruler had said that his government would insist at the end of July in the Senate to resume the legislative processing of the tax adjustment.
Through a new Fiscal Pact, Boric said that the spending proposals involve resources for 8,000 million dollars to finance programs such as the Universal Guaranteed Pension to improve the lowest pensions, reduction of waiting lists in health, as well as greater investment in citizen security.
“This proposal considers the contribution made by growth, the reform of the state, the strengthening of tax oversight and taxes paid by the higher income sectors to be able to finance in this way the social expenses that are urgent,” he said in a televised speech.
“We are not going to insist in the Senate with the bill that was previously rejected”, he added.
Boric did not specify deadlines for the delivery and processing of the initiatives, or how much the total collection is expected to be.
The government’s new proposal will be divided into two projects, one to improve tax compliance and the other to adjust income tax focused on those with greater resources.
“This initiative will also include tax incentives for investment, productivity and formalization, as well as benefits for the middle class and a new regime for smaller companies,” he said.
He specified that the tax incentives would be equivalent to 0.5 points of the Gross Domestic Product (GDP).
The first project includes measures that seek to increase tax collection through legal modifications that do not imply a tax increase, which would increase tax collection by 1.5% of the GDP in net terms, according to a government minute.
Meanwhile, the second will be focused on income tax for both companies and individuals and will include incentives for investment, productivity and formalization, as well as benefits for the middle class and the new tax regime for smaller companies, which would have a fiscal cost of 0.5% of GDP.
At the investment level, tax incentives such as semi-instantaneous depreciation and a tax credit fund for investments with a multiplier effect on activity, employment and environmental sustainability are proposed.
It also commits to reduce by 30% the processing time for mining projects, according to the minutes.
Additionally, the plan includes five priority areas of productive diversification that by 2026 foresees three or four new lithium projects, two thirds of the energy matrix with renewable sources, 10-12 projects in the development of green hydrogen and an increase in the digital economy.
The original tax reform bill was rejected in March by the deputies and the government could only insist on its passage through the Senate.
International
Mexico’s president blasts ‘Inhumane’ U.S. migration law
Mexican President Claudia Sheinbaum stated on Friday that any Mexican detained in the United States should be “immediately” returned to Mexico. Her remarks come in the wake of the opening of a new migrant detention center in Florida earlier this week.
Speaking during her daily press conference, known as La Mañanera del Pueblo, Sheinbaum emphasized that so far, no Mexican national has been held in the facility, which has already sparked controversy and has been nicknamed “the Alcatraz of the Alligators.”
She also criticized the new fiscal law signed by former U.S. President Donald Trump, passed by Congress just a day earlier. The law, which Trump dubbed the “great and beautiful tax reform,” includes significant tax cuts and sweeping reductions in public policies, reallocating billions toward national security and defense—including $170 billion to enhance border security, deportations, and the expansion of detention centers.
“We do not agree with a punitive approach to migration. Migration must be addressed through its structural causes, with cooperation for development,” Sheinbaum asserted.
The Mexican president labeled the Trump administration’s view of migrants as criminals as “inhumane,” and warned that such policies ultimately harm the U.S. economy. She pointed to the mass deportation of agricultural workers as an example of how these actions are already backfiring.
“These are hardworking people—people of good will—who contribute more to the U.S. economy than they do to Mexico’s,” Sheinbaum said, announcing that her government will strengthen support programs to ensure that affected migrants can return home safely and reintegrate into the workforce.
International
Julio César Chávez Jr. faces charges in Mexico after U.S. arrest
Mexican President Claudia Sheinbaum announced on Friday that the country is expecting the deportation of boxer Julio César Chávez Jr. so he can face legal proceedings in Mexico, following his arrest in the United States and confirmation by Mexico’s Attorney General’s Office (FGR) of an arrest warrant for organized crime and arms trafficking.
“This is an arrest warrant stemming from an investigation that began in 2019 and was granted by a judge in 2023 (…). We are expecting his deportation so he can serve his sentence in Mexico,” Sheinbaum stated during her daily press briefing.
The president said she was unaware of the case until speaking with Attorney General Alejandro Gertz Manero, who confirmed an investigation linked to organized crime. She also noted that authorities had been unable to execute the warrant earlier because Chávez Jr. had spent most of his time in the United States. “His deportation to Mexico is now being pursued,” she added.
Sheinbaum said there is no confirmed date yet for the boxer’s return to the country, as the process involves “specific protocols” that the FGR is currently handling.
Her statement follows the announcement by U.S. authorities on Thursday of Chávez Jr.’s arrest. The boxer, son of Mexican boxing legend Julio César Chávez, is accused of involvement in organized crime and arms trafficking allegedly tied to the Sinaloa Cartel.
“This Sinaloa Cartel affiliate, wanted for trafficking firearms, ammunition, and explosives, was arrested by U.S. Immigration and Customs Enforcement (ICE),” said Tricia McLaughlin, Deputy Assistant Secretary at the Department of Homeland Security (DHS), in an official statement.
International
Europe faces a summer of heatwaves and wildfires, Red Cross warns
The heatwave sweeping across Europe — accompanied by wildfires in countries such as Greece and Turkey — is “just the beginning” of a summer season expected to see extreme conditions lasting through September, the International Federation of Red Cross and Red Crescent Societies (IFRC) warned.
In a statement, the IFRC stressed the urgent need for governments and communities to shift from a reactive to a preventive approach to safeguard lives.
The organization reported that wildfires in the Turkish region of Izmir, on the country’s western coast, have already claimed at least two lives and forced the evacuation of 50,000 people. Meanwhile, on the Greek island of Crete, around 5,000 residents and tourists have also had to flee due to encroaching fires.
Smaller-scale evacuations and wildfires are also being reported in other countries, including eastern Germany and North Macedonia, with Red Cross volunteers actively involved in firefighting and relief operations.
“Heatwaves and wildfires — increasingly frequent and deadly — are no longer isolated events. They are becoming the new reality for millions,” said Birgitte Bischoff, IFRC’s Regional Director for Europe.
Mexico’s president blasts ‘Inhumane’ U.S. migration law
Julio César Chávez Jr. faces charges in Mexico after U.S. arrest
Europe faces a summer of heatwaves and wildfires, Red Cross warns
Tec de Monterrey honors one of its students for his contribution to nanotechnology in medicine
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