President Calderon's bill to reform Mexico's tax system has been approved by the national Congress. According to the Economist, the new tax laws will increase the government's non-oil tax revenue from 10% of GDP to 12% by 2012, resulting in an extra $10.3 billion in federal funds next year.
In order to gain support for his tax proposal, Calderon approved an opposition-inspired bill reforming the electoral process. The new electoral laws shorten the length of presidential campaigns and ban all political advertising except that arranged by the Federal Electoral Institute (FEI) in designated time slots.
For former Mexican Foreign Minister Jorge Castaneda's take on all of this, see The Fragile Democracy, which appears in Newsweek.
For additional details, see:
Reforms at Last (Economist)
Key Facts About Mexico's Tax Reform (Reuters)
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