Colombia’s Radical Change Party Says it Won’t Back Tax Bill

Center-right Radical Change party said in a statement posted on Twitter it will vote against the tax reform proposed by the Gustavo Petro administration.

• Among the reasons, the party says it opposes a 10% increase in the price of several basic goods consumed by low income families such as sugary drinks and sausages
• The reform raises the tax rate for companies “to a level between 60% and 104% of profits, which will slow economic growth and cause unemployment and poverty throughout the country”
• Bill doesn’t say how the 25 trillion pesos ($5.7 billion) it intends to collect from taxpayers will ...