Grupo Bimbo

Mexico's Chamber of Deputies OKs junk food tax

Mexico's Chamber of Deputies OKs junk food tax

MEXICO CITY — It may soon cost more to get fat in Mexico. New taxes on high-calorie foods and sugary drinks were approved by Mexico's lower house of Congress in a marathon 18-hour session that ended Friday, and are likely to become law. They are part of a broader package of taxes and other fiscal changes proposed by President Enrique Peña Nieto aimed at generating nearly $20 billion for the national treasury. Mexico has one of the world's highest rates of obesity, recently surpassing the United States, and health experts applauded higher prices for chips, candy and other chatarra, or junk food. However, the idea is being panned by many in the business community....