Background and Relevance
The Mexican Senate is set to vote on the revenue bill for 2026, following its approval by the Chamber of Deputies on October 15. This bill, which includes modifications to the Federal Tax Code, the Special Production and Services Tax Law, the Federal Rights Law, and the Income Law, is expected to generate over 10 trillion pesos in revenue. This represents a nominal increase of 891,667 million pesos and a real growth of 5.9% compared to the 2025 Income Law.
Key Figures and Their Roles
María del Carmen Bonilla Rodríguez, the Undersecretary of Finance and Public Credit; Carlos Gabriel Lerma Cotera, the Undersecretary of Income; and Antonio Martínez Dagnino, the head of the Tax Administration Service (SAT), will present the details of the amended minutes to the Senate’s Hacienda and Public Credit, as well as the Legislative Studies I Committee. The presentations are scheduled for Tuesday in committees and Wednesday in the plenary session.
Content of the Revenue Bill
The Federal Income Law (LIF) 2026 aims to ensure prudent, transparent, and sustainable public finance management. It emphasizes the responsible use of resources, adhering to principles of austerity, budgetary discipline, and accountability. The bill also prioritizes efficient tax collection, combating evasion, and promoting rational spending, thereby strengthening macroeconomic stability and fostering trust among taxpayers.
Timeline and Procedure
According to Article 42, Fraction IV of the Federal Budget and Financial Responsibility Law, the Income Law must be approved by the Chamber of Deputies no later than October 20 and by the Senate no later than October 31. Once approved by the Senate, the bill will be sent to the Chamber of Deputies for formal initiation of the Federal Expenditure Budget (PEF) process for the upcoming year.
Key Questions and Answers
- What is the main focus of the Mexican Senate’s upcoming vote? The Senate will vote on the Federal Income Law (LIF) 2026, which aims to generate over 10 trillion pesos in revenue.
- What does the LIF 2026 prioritize? The bill emphasizes prudent, transparent, and sustainable public finance management, efficient tax collection, combating evasion, and promoting rational spending.
- What is the timeline for approving the Income Law? The Federal Budget and Financial Responsibility Law mandates that the Income Law be approved by the Chamber of Deputies no later than October 20 and by the Senate no later than October 31.
