International

Chilean President abandons his fiscal reform and presents new proposal

Photo: MSM

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.

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“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).

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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.

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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

New York Announces First 2,000 Seats in Universal 2-K Program

The Governor of New York, Kathy Hochul, and New York City Mayor Zohran Mamdani took another step today in their universal early education agenda by announcing the communities that will have access to the first 2,000 seats in the new 2-K program this fall — an initiative backed by a $73 million investment.

The funding is part of the $1.2 billion package previously unveiled by Hochul to strengthen child care and early childhood education across the city, one of the key campaign promises of the now Social Democratic mayor.

At the time of the announcement, the governor also outlined additional funds to reinforce the existing 3-K early education infrastructure, a program launched under former Mayor Bill de Blasio (2014–2021).

When the 2-K initiative was introduced in January, Mayor Mamdani explained that its first phase would offer 2,000 seats, with the goal of eventually expanding into a universal program — a commitment supported by the governor.

State investment in child care and preschool services is expected to increase to $4.5 billion by fiscal year 2027.

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Among the first communities set to benefit from the 2,000 seats are Upper Manhattan and Inwood — areas with large Dominican populations — as well as Fordham and Kingsbridge in the Bronx, a borough with a Latino majority.

In East Brooklyn, Canarsie, Brownsville, and Ocean Hill will also be included. Meanwhile, Ozone Park and the Rockaways are among the neighborhoods that will see the rollout of the 2-K program.

International

Warner Bros. Developing First ‘Game of Thrones’ Movie With ‘Andor’ Writer

Warner Bros. is developing the first feature film based on the hit saga Game of Thrones, with Beau Willimon — screenwriter of Andor — attached to direct, according to a report published Tuesday by Page Six.

The project, currently in early development, will focus on the conquest of King Aegon I Targaryen. A separate television adaptation centered on the same historical storyline within the franchise is also in early stages at HBO.

However, the outlet noted that it remains unclear whether the film will move forward following the recent acquisition of Warner Bros. Discovery by Paramount Skydance.

If the merger is finalized, the movie could potentially be shelved, although that scenario appears unlikely given that the Game of Thrones franchise remains one of HBO’s most valuable and beloved properties.

After six seasons adapting the work of George R. R. Martin, the platform expanded the universe with House of the Dragon, a prequel series set 200 years before the events of Game of Thrones that explores the history of House Targaryen.

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International

Spain’s Prime Minister to Address Nation Amid Trump’s Trade Threats

The Prime Minister of Spain, Pedro Sánchez, will deliver an institutional address this Wednesday at the Moncloa Palace regarding the escalating situation in the Middle East and recent threats directed at Spain by U.S. President Donald Trump.

The Spanish government announced that Sánchez will make a statement at 9:00 a.m. local time to outline his position on the latest developments following the U.S. and Israeli attacks on Iran.

Sánchez is expected to reiterate Spain’s reasons for opposing the use of U.S. military bases on Spanish soil in the operation—an action he has already described as being outside international law—while also expressing criticism of the Iranian regime.

Government sources indicated that the address had been planned prior to Trump’s remarks criticizing Spain’s stance. However, following those comments, Sánchez is now also expected to respond directly to the U.S. president’s statements.

Trump has threatened to “cut all trade with Spain” and said he wants “nothing to do” with the country after Madrid refused to authorize the use of the Morón and Rota military bases in southern Spain for operations against Tehran.

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The U.S. president also labeled Spain “a terrible NATO partner” and warned that “no one” would tell him he could not use the facilities.

In response, the Spanish government stated that Spain fulfills its commitments to NATO and European defense. It also warned Trump that any review of bilateral trade relations must respect international law and the agreements in place between the European Union and the United States.