Mexico tax overhaul to shield poor from food, medicine hikes: lawmakers

(Reuters) – Mexico’s government is poised to break a taboo and tax some foods and medicine under an tax overhaul proposal but will take measures that shield the country’s poorest, ruling party lawmakers said on Tuesday.

The bill will also very likely propose raising the top income tax rate for the wealthiest to as much as 40 percent from 30 percent, several officials from President Enrique Pena Nieto’s Institutional Revolutionary Party (PRI) said on condition of anonymity.

One of the key planks of a wider economic reform program aimed at boosting economic growth, the proposal is set to be unveiled by Pena Nieto on Sunday along with his 2014 budget.

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