Uruguay President Lacalle Pou Seeks $150 Million in Tax Cuts (1)

Uruguay’s President Luis Lacalle Pou said Thursday he will ask lawmakers to approve $150 million in tax cuts for individuals and small businesses.

“We are in conditions to proceed with a reduction in taxes” thanks to a growing economy and improving public finances, Lacalle Pou said in his annual address to Congress. Lower taxes will boost consumption and the economy, he said.

Luis Lacalle Pou

Photographer: Dante Fernandez/AFP/Getty Images

The government will sponsor legislation that would increase personal income tax deductions for 75% of tax payers, while about 63,000 low income workers would no longer have to pay at all. Other proposed tax changes would ...