Sunday, March 3, 2024

The Court admitted a challenge against AMLO’s massive Revenue Law debt

The Supreme CUT OFF of Justice of the Nation (SCJN) admitted this Tuesday for the processing of unconstitutionality action AGAINST Revenue Lawsince 33 percent of SENATE challenged that the government has a mega debt which amounts to 1 trillion 990 billion pesos.

Through a thread on social networks, political analyst Ernesto Guerra detailed that on November 13, 2023, the Revenue Law for the Fiscal Year of 2024, where the Second article is activated giving the green light to the federal Executive Branch of borrow up to the amount of 1 billion 990 thousand pesos to cover the Expenditure budget.

In basic terms, the Presidency of Andrés Manuel López Obrador has the opportunity in his last year of government to contract the obligations that comprise public debt internal additions to what is permitted, provided the be in debt the external net is lower than that established in this article in an amount equal to that of said additional obligations.

Another authorization obtained by the government in the Fourth Amendment is that, through the Ministry of Finance, it issues securities in the national currency and contracts loans for the exchange or refinancing of the obligations of federal treasury, in terms of the Federal Law of Public debt.

The answer to opposition this consent loan

the opposition in it SENATE of the Republic, in this case, up to 33 percent of its members, presented an appeal for CHALLENGES before the CUT OFFwhere they demand the invalidity of the general rule and declare it unconstitutional Revenue Law for fiscal year 2024.

The unconstitutionality action 225/2023 was admitted for processing and assigned to the investigating minister Luis María Aguilar Morales.

Context

At the dawn of October 20, 2023, the Morena bench and its allies used their majority to approve in general and in particular the Revenue Law 2024 which includes the record number of loan of almost 2 trillion pesos, a reduction in Income Tax (ISR) of 3% compared to last year and tax relief for productive state companies, Petróleos Mexicanos (Pemex) and Federal Electricity Commission (CFE). , and other things.

Then, on October 26, 2023, the SENATE approved the terms of loanby endorsing the document providing INCoMe of 9 billion 66 thousand 45.8 million pesos in 2024.

the Revenue Law THINK INCoMe amounts to 9 trillion 66 thousand 45.8 million pesos, with a net internal debt of one trillion 990 billion pesos, of which the loan The total public sector accounts for 48.8% of the gross domestic product (GDP), and a ceiling of be in debt net external of 18 billion dollars.

World Nation News Desk
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