Mexico launches mbitious plan to stimulate US border economy

Vastavam web: President Andres Manuel Lopez Obrador has launched an ambitious plan to stimulate economic activity on the Mexican side of the US-Mexico border despite recent U.S. threats to close the border entirely. Mexico plans to slash income and corporate taxes to 20 per cent from 30 per cent for 43 municipalities in six states just south of the US, while halving to 8 per cent the value-added tax in the region. Business leaders and union representatives have also agreed to double the minimum wage along the border, to 176.2 pesos a day, the equivalent of USD 9.07 at current exchange rates.