National Assembly will vote tomorrow on BDH increase

The plenary of the National Assembly will vote tomorrow for the Draft Law for the Re-distribution of Social Spending.

Tomorrow at 09:30 am, the National Assembly plans to vote on the Draft Law for the Re-distribution of Social Spending  promoted by President Rafael Correa, which sets a tax increase to private banks to support an aid program for the poor, including the increase of the Human Development Bond (BDH for its Spanish acronym)

Correa’s government hopes to raise about $ 164 million a year on taxes of private banking to, along with the $ 140 million provided by the government, increase the BDH from $ 35 to $ 50, which benefits 1.2 million Ecuadorians monthly.

After voting, following the debate at the plenary, the Assembly shall decide upon  the second report of the bill prepared by the Special Commission on the Economic and Tax Regime and its Regulation and Control, which contains the main aspects of the proposal sent by the Executive power. (MZ)