Image credits: Presidencia de la República
News Article

Reform of Infonavit, Fovissste / Laments Lack of Courage

By Ricardo Guzman | Wed, 09/23/2020 - 11:05

Reform of Infonavit and Fovissste. President López Obrador said that he is already preparing a reform to provide all Infonavit and Fovissste loans directly to workers. “I am preparing a reform that will deliver Infonavit and Fovissste loans directly to workers without intermediation, so that each worker can decide what to do with their money,” he said. Reforms of both national housing funds for workers are intended to end the involvement of real estate companies. “All these real estate companies emerged like mushrooms after the rain during the neoliberal period,” he lamented. López Obrador said he was confident that he would have the support of both Infonavit and Fovissste board members to approve this initiative.

Laments Cárdenas’ lack of courage. After Jaime Cárdenas quit as head of the Institute to Return the Stolen to the People (Indep), President López Obrador pointed out that Cárdenas did not get truly involved in cleaning up that institute, and that “you need conviction and courage if you want to work” for his administration. “We can’t face problems with depression and being immobilized,” he said. In his resignation letter released yesterday, Cárdenas lamented ongoing corruption at the agency, such as stealing jewels, manipulating auctions and keeping prizes, including money involved in paying prizes from the plane presidential raffle. Cárdenas, who has been a close aid and lawyer to the president, lasted only three months as Indep head. López Obrador said that with that spirit it would be impossible to face the pandemic and the economic crises. “You always have to move forward,” he said.

MX$413 billion in forgiven taxes. During the six-year terms of Felipe Calderón and Enrique Peña Nieto, over MX$413 billion (US$186 million) in taxes were forgiven, Tax Administration Service (SAT) head Raquel Buenrostro said. “This is why the Constitution’s article 28 was reformed last year,” she noted and highlighted that now any tax remission is explicitly prohibited. Buenrostro stated that a first package of complaints was presented against 42 companies involved in the massive fake invoices scheme known as factureras, in which 30 public figures are involved with debts amounting to MX$2.2 billion (US$100 million). “Here we have the names of 30 public figures. People linked to football teams, media, newspapers and music groups,” she said.

Tax collection rises despite pandemic. Despite the COVID-19 pandemic, tax collection from January to August rose, demonstrating Mexico’s healthy finances, President López Obrador said. “Despite the pandemic, we have managed to maintain income with a minimal decrease after the (hit on the) economy and productive activity. We can say that we have healthy public finances,” he said. Tax Administration Service (SAT) head Raquel Buenrostro said collection increased 6.1 percent. “Internal collection grew 6.1 percent and that reflects the national taxpayers’ social responsibility,” she said.

A warning to officials. President López Obrador said that by the end of October, all officials with aspirations to be a candidate in next years’ elections must leave their positions. “I’m taking advantage of this opportunity to tell everybody that they must leave their position no later than the end of October. All those who have aspirations to participate as candidates in next year's elections have to leave their government positions as soon as possible so they can start switching jobs,” he said and highlighted that politicians can’t mix partisan and government affairs. A handful of ministers are expected to resign their positions to contend for governorships next year.



Click HERE for full transcript in Spanish

Ricardo Guzman Ricardo Guzman Editor