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
Winter storm disrupts holiday travel, forcing 1,500 flight cancellations in the U.S.
Airlines canceled around 1,500 flights across the United States during the peak Christmas travel season after warnings of a severe winter storm and forecasts of heavy snowfall in the Midwest and Northeast. An additional 5,900 flights were delayed due to adverse weather conditions.
More than 40 million Americans were under snowstorm warnings or weather advisories one day after Christmas. Meanwhile, another 30 million people faced flood or storm alerts in California, where an atmospheric river triggered intense rainfall.
New York City was bracing for up to 25 centimeters (10 inches) of snow overnight, which would mark its heaviest snowfall in four years. Cold weather was expected to persist through the weekend in the nation’s largest city. According to flight-tracking website FlightAware, airports in the New York area recorded about 850 flight cancellations.
International
At Least Eight Dead and 19 Injured in Deadly Bus Crash in Veracruz, Mexico
A tragic bus accident in the eastern state of Veracruz left at least eight people dead and 19 others injured on Wednesday afternoon, according to local authorities.
The vehicle was traveling through the town of Zontecomatlán when it crashed near a ravine, state Civil Protection officials reported late Wednesday night. “Regrettably, the prosecutor’s office has confirmed eight fatalities,” the agency stated in an official release.
Emergency Response and Medical Care Rescue teams worked into the night to assist the survivors. The 19 injured passengers were stabilized at the scene before being transported to hospitals in the nearby municipalities of Chicontepec and Huayacocotla. While the identities of the victims have not yet been released, Mexican press reports indicate the bus was en route from Mexico City to Chicontepec.
A Recurring Issue on Mexican Highways Road accidents involving long-haul passenger buses and freight transport are a frequent occurrence in Mexico. Experts often cite excessive speed, mechanical failure, or driver fatigue as the primary catalysts for these tragedies.
This latest incident follows another major disaster in late November, where 10 people were killed and 20 injured in a similar bus crash in the western state of Michoacán. The recurring nature of these accidents continues to spark national debate regarding the enforcement of stricter safety regulations for commercial transport units.
International
Jair Bolsonaro Hospitalized for Inguinal Hernia Surgery While Serving Sentence for Attempted Coup
Former Brazilian President Jair Bolsonaro, currently serving a 27-year prison sentence for an attempted coup, underwent surgery this Thursday for an inguinal hernia. The procedure took place at the DF Star Hospital in Brasilia, according to his wife, Michelle Bolsonaro.
The 70-year-old former leader left prison on Wednesday for the first time since his incarceration in late November to prepare for the operation. “My love has just gone to the surgical center,” Michelle Bolsonaro posted on Instagram, where she has been documenting her accompaniment during his hospitalization.
Surgical Expectations and Health History Medical professionals treating the far-right ex-president (2019-2022) anticipate the operation will last approximately four hours. His recovery period in the hospital is expected to extend between five and seven days.
Dr. Claudio Birolini explained on Wednesday that while the surgery is standardized, it remains complex due to the patient’s history. Bolsonaro continues to suffer from the long-term effects of a 2018 campaign rally stabbing, an injury that required several major abdominal surgeries in the years following the attack.
“There is no such thing as a simple surgery. However, this is a scheduled and standardized procedure, so we expect it to be carried out without major complications,” Dr. Birolini stated.
Potential Additional Procedures Following the hernia repair, the medical team will evaluate whether Bolsonaro can undergo a second procedure: an anesthetic block of the phrenic nerve. This nerve controls the diaphragm, and the intervention would aim to resolve a chronic case of recurrent hiccups that has plagued the former president for years.
Bolsonaro remains under heavy security at the medical facility as he serves his lengthy sentence related to the events surrounding the January 2023 institutional crisis in Brazil.
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