Mexican Senator Says Sales Tax Increase... Is Dead.

BLOOMBERG/
The second-largest party in the Mexican Senate may reject key elements of the tax legislation and 2010 budget approved by the lower house.
“All of society has collectively rejected the additional 1 percent on the sales tax,” said Senator Carlos Lozano de la Torre, a member of the finance committee in the Senate. “It doesn’t really resolve the needs of the state and it will tax people who can’t afford to pay it.”