MEXICO CITY — The approval of the 2026 Revenue Law sparked a
heated confrontation in the Senate, after opposition legislators accused the
Morena majority and its allies of jeopardizing the country's financial future
by raising public debt to over 20 trillion pesos, an unprecedented figure in
Mexico's recent history.
During the debate, Ricardo Anaya Cortés, coordinator of the
PAN Parliamentary Group, presented several reservations to the bill, warning
that the new fiscal framework proposed by the federal government exacerbates
dependence on debt and reduces the room for maneuver for productive investment
and social spending.
“Morena is mortgaging the future of Mexicans. This Revenue
Law does not seek stability or development; it seeks to finance excessive
government spending at the cost of indebting the country for generations,”
Anaya denounced from the podium.
The bill, championed by the ruling party, establishes a
historic debt ceiling, justified by the Finance Ministry as a necessary measure
to sustain priority programs, strategic infrastructure, and economic growth in
an international context of volatility and slowdown.
However, the opposition—comprised of the PAN, PRI, PRD, and
Movimiento Ciudadano parties—believes the government has opted for an
unsustainable spending policy while avoiding a fundamental tax reform that
would increase revenue and reduce dependence on oil income.
“With this law, Morena is leaving Mexico with a debt
exceeding 20 trillion pesos and without a clear repayment plan. The margins of
fiscal responsibility that took decades to build are being exhausted,” added
Anaya Cortés.
Economists consulted warn that the increased debt could
translate into inflationary pressures, higher interest rates, and lower private
investment, negatively impacting growth and employment.
For their part, senators from the Morena party defended the
bill, arguing that the debt will be manageable and that Mexico maintains a
debt-to-GDP ratio lower than the Latin American average. They also emphasized
that the resources will be allocated to infrastructure projects, education, and
social programs.
Despite the criticism, the 2026 Revenue Law was approved in
general and in particular and will be sent to the federal executive branch for
its enactment. The debate made clear the clash of economic visions between the
ruling party, which favors fiscal expansion, and the opposition, which demands
stricter management of public finances.
“Today more debt is approved; tomorrow, the citizens will
pay the consequences,” Anaya concluded, at the close of his remarks.