Mexico says has less space than U.S. for tax reform

3/13/2017 Reuters

Jose Antonio MeadeMexico’s Finance Minister Jose Antonio Meade said on Monday that Mexico was analyzing how to respond to U.S. tax proposals, including a border adjustment tax, but that Mexico has less fiscal space than the United States to enact reforms.

Mexico’s debt levels have risen sharply in recent years and the government has promised to cut spending this year and reach a primary surplus.

“The United States has more possibility to issue debt than Mexico,” Meade said on local TV.

He said that there were currently no plans to raise taxes in Mexico, but that the government was still analyzing how to react to potential U.S. tax measures.

“So far all we know are just sketches of (U.S.) proposals. So in front of each draft proposal we are evaluating what the impact might be,” Meade said.

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