Photo: Deposit Photos

By KELIN DILLON

Early in the morning of Wednesday, Oct. 27, Mexico’s Senate approved the country’s new Income Package for 2022 in a 66 to 44 vote, without making any changes to the initiative.

Though opposition parties presented more than 400 potential issues with the initiative, majority senators from the in-power National Regeneration Movement (Morena) rejected their reservations one-by-one. 

The decision likewise saw the approval of the controversial proposal to increase passport costs, as well as the increased price of admission for the nation’s public museums.

The package estimated 7.08 billion pesos worth of tax collection in 2022, as well as an anticipated GDP of 4.1 percent, an exchange rate to the U.S. dollar of 20.3 pesos, 1.86 million barrels per day of crude oil production, and an export rate of $55.10 per barrel.

The budget will now go to the executive branch headed by President Andrés Manuel López Obrador (AMLO) for final approval.

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