The Mexican Senate has approved the 2026 Revenue Law after a long debate over government debt and financial management. The bill received 79 votes in favor and 37 against during the session held on Wednesday, October 29. With this approval, the law now only needs President Claudia Sheinbaum’s signature before it is published in the Official Gazette and officially becomes law.

The Revenue Law projects total income of 10 trillion 193 billion 683.7 million pesos for the federal government, with a proposed debt of 1 trillion 472 billion 626.4 million pesos. This debt could increase up to 1.78 trillion pesos if necessary. Morena and its allies from the Green Party and the Labor Party voted in favor of the law, while opposition parties such as PAN, PRI, and Movimiento Ciudadano voted against it.

Morena Defends Responsible Debt Management

Senators from Morena defended the Revenue Law, saying that the government of President Claudia Sheinbaum will manage public finances responsibly and transparently. Senator Claudio Ochoa stated that the debt will not be used to enrich a few, but to strengthen national development and social programs.

“When the opposition tries to discredit this law by talking about debt, we must remember that what we are paying today is the legacy of their neoliberal model,” Ochoa said during the debate.

Allied parties like the Green Party and Labor Party supported the proposal, saying the 4T government’s debt plan is a solid, efficient, and fair economic policy. They noted that around 80% of revenue will come from domestic taxes instead of foreign loans, highlighting the country’s financial independence.

Opposition Calls It “Demonic Debt”

Opposition senators criticized the new Revenue Law, calling it a demonic debt that will burden Mexican citizens. PAN members accused the ruling coalition of misleading the public, with some calling 4T senators Pinocchios. Senator Gustavo Sánchez Vásquez said the law could increase debt for future generations, allowing the government to borrow up to 1.8 trillion pesos in 2026, which he considers too high.

The Institutional Revolutionary Party (PRI) also expressed concern, warning that the Sheinbaum administration plans to collect more than 10 trillion pesos without a clear explanation of how the funds will be spent. The parties raised doubts about the law’s transparency and its potential impact on Mexico’s financial future.

Next Steps for the Revenue Law

After passing both chambers of Congress, the 2026 Revenue Law now moves to the Executive Branch for final approval. Once President Claudia Sheinbaum signs it, the law will be published and take effect starting in the new fiscal year.

Supporters believe the law will help fund key social programs, infrastructure, and public services, while critics warn it could increase Mexico’s debt burden. The debate highlighted the deep political divide between Morena and the opposition, setting the tone for future discussions on the country’s economic direction under the new administration.