The Observatory of Catholic Citizenship and Social Analysis published on October 26, 2026 its Bulletin No. 78, in which it analyzes the 2027 Revenue Law and the fiscal measures associated with the Economic Package. The document maintains that this constitutes a milestone that, together with the reforms of the so-called Fourth Transformation, configures an unprecedented attack on the economy of Mexico’s middle classes.
The ethical criterion framing the analysis is the affirmation of Benedict XVI in Deus caritas est (n. 28): justice is the object and intrinsic measure of all politics, and the State must ask itself not only how to achieve it, but what justice itself is, in the face of the permanent risk that practical reason may be dazzled by interest and power.
The bulletin starts from three questions: How do national legislative decisions affect Mexican families? What outcome does the 2027 Revenue Law seek, and whom does it benefit or harm? And whether it is just, ethical, and necessary. The Observatory’s response is critical. It points out that the governments of Andrés Manuel López Obrador and Claudia Sheinbaum Pardo squandered public resources and tolerated corruption and looting for the benefit of particular groups, including the so-called Tabasco Group. The 2027 Economic Package, submitted on September 8 and approved without substantial modifications, arrives at a time when the consequences of those decisions are being paid.
According to the report, the government seeks greater revenues from micro, small, and medium-sized enterprises, from professionals, merchants, manufacturers, and from workers in the informal economy. ENOE-INEGI data from September 2026 place informal jobs and self-employment at 32.56 million, compared to 27.41 million formal ones. The total employed population was around 59.97 million, with a decline in informality and a weaker advance in the formal sector. The Observatory recalls that, in the last two years, more than 25,000 companies were deregistered with the Mexican Social Security Institute, due to insecurity, legal uncertainty, judicial reform, increases in the minimum wage, more vacation days, reduced working hours, and a high tax burden.
Official figures contrast with the statements. The president assured that greater revenues would be obtained by combating tax avoidance and evasion, without gasoline price hikes, new taxes, or increased indebtedness. The bulletin describes these claims as “flagrant lies.” The internal debt ceiling reaches 1.7 trillion pesos and the external one 13.5 billion dollars; public debt would stand at 55% of GDP in 2027. The proposed net expenditure is 10 trillion 636.488 billion pesos, with expected revenues of 9.15 trillion (23.2% of GDP). Tax collection is projected at 6 trillion 263.886 billion (15.9% of GDP), equivalent to 68.4% of revenues. The 5.9% tax increase breaks down into 2% from economic growth and 3.9% from new measures, almost double what is expected from growth (estimated between 1.5 and 2.5%).
Among the reforms, stricter limits on corporate income tax for legal entities with revenues above 50 million pesos stand out (deductions at 96.67% or 99%, amortization of losses at 50%, reduction of the net interest limit from 30% to 20%), adjustments to RESICO (limits of 5 million for individuals and 50 million for legal entities), withholdings on digital platforms (2.5% or 20% without RFC), 0.68% withholding on interest, and selective incentives (repatriation at 7.5%, Plan México, initial public offerings). The non-resident fee and quotas for aircraft and railways are also increased. The Observatory emphasizes that large companies represent only 0.2% (13,371 units) of 5.5 million; MSMEs generate around 52% of GDP and 72% of formal employment, and employ nearly 27 million people.
Expenditure is not reduced in priority social programs (1 trillion 25.388 billion, with pensions for older adults and Benito Juárez scholarships as the largest items), nor in subsidies for works from the previous six-year term (Maya Train and Interoceanic Corridor, about 42 billion; support for Pemex, 81 billion). The 1.7 trillion in indebtedness is practically equivalent to debt service (1.6 trillion) and exceeds what was paid by the Bank Savings Protection Fund in 30 years. The bulletin warns about the “fiscal discrepancy,” which can carry up to nine years in prison, and about the banking and digitalization of payments, aimed at “trapping” taxpayers rather than modernizing. It describes the whole as harassment and “fiscal terrorism” with confiscatory purposes, by inhibiting legally recognized deductions.
In conclusion, the Observatory points out that the economy is not growing, resources were squandered on corruption and pharaonic works, debt is high, and rating agencies are moving Mexico closer to the junk bond category. The supposed fiscal consolidation (more revenues, less deficit, debt stabilization) translates in practice into greater pressure on the captive base of formal and informal companies and workers. It anticipates lower collection than official estimates and the impoverishment of millions of families. It proposes citizen actions: to inform oneself with independent analyses, to discuss the issue, and to remain attentive to act in an organized manner if necessary.
The bulletin does not deny the need for sound public finances, but insists that the measure of all policy is justice and that current measures, by disproportionately taxing those who generate employment and activity in an environment of low growth and insecurity, do not meet that criterion.
The full report can be read here: