Mexico Senate broadly approves tax plan, hits snag on details

Christmas in August

Mexico's President Nieto speaks during a welcome ceremony for Ireland's President Higgins at the National Palace in Mexico CityBy Dave Graham and Miguel Gutierrez MEXICO CITY (Reuters) – Mexico's Senate gave general approval to the government's plan to boost tax revenues before the main opposition party walked out early on Wednesday, halting voting on divisive details of the reform. The tax bill is a cornerstone of President Enrique Pena Nieto's reform agenda, and early voting on Wednesday suggested his Institutional Revolutionary Party (PRI) would succeed in thwarting any major changes to the legislation. The Senate approved the broad outline of the fiscal bill that is designed to improve Mexico's weak tax revenues late on Tuesday, then began a debate through the night over sections that lawmakers had sought to repeal or change.

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