LATAM POLITICS TODAY-Colombia's new government proposes new taxes on wealth, oil

Finance Minister Jose Antonio Ocampo said the bill would eventually add some $11.53 billion annually to government coffers, with revenue gradually climbing as the legislation comes into force. The funds, raised by levying more charges on high-earning individuals and exports of coal and oil, will be directed toward an ambitious agenda of social programs, including anti-hunger efforts, free public universities and aid for elderly people without pensions.

The latest in Latin American politics today: New Colombian government proposes tax bill to fund social programs

BOGOTA - Colombia's new leftist government on Monday formally proposed a tax reform bill to lawmakers that would raise some 25 trillion pesos ($5.76 billion) in 2023, equivalent to 1.72% of gross domestic product, in an effort to increase revenue for anti-poverty programs. Finance Minister Jose Antonio Ocampo said the bill would eventually add some $11.53 billion annually to government coffers, with revenue gradually climbing as the legislation comes into force.

The funds, raised by levying more charges on high-earning individuals and exports of coal and oil, will be directed toward an ambitious agenda of social programs, including anti-hunger efforts, free public universities and aid for elderly people without pensions. Colombia's Petro hosts Chile's Boric after inauguration

BOGOTA - In his first bilateral encounter as president with another South American leader, Colombia's newly inaugurated President Gustavo Petro met with his Chilean counterpart Gabriel Boric. The two discussed clean energy, regional integration and peace in Colombia, as well as migration and organized crime, among other topics, they told journalists.

"In particular we have discussed revitalizing the Andean community," Petro said, referring to a free trade group made up of Colombia, Bolivia, Ecuador and Peru, and which used to include Venezuela and Chile, of which the latter is an associate member. Lula's lead narrows to single-digit in Brazil race -poll

BRASILIA - Former President Luiz Inacio Lula da Silva's lead over incumbent Jair Bolsonaro has narrowed to seven percentage points ahead of the October election, according to a new poll. The leftist leader has the support of 41% of voters against 34% for his far-right adversary, compared with 44% and 31% respectively last month, the BTG/FSB telephone poll said.

Lula's lead has dropped steadily to seven points from 13 last month and 14 in May, the poll said. Honduras considers returning its embassy in Israel from Jerusalem to Tel Aviv: foreign minister

TEGUCIGALPA - The Honduran government is considering returning its embassy in Israel to Tel Aviv from Jerusalem, reversing an earlier decision by Tegucigalpa to follow in the footsteps of the United States, Foreign Minister Enrique Reina said. The Central American nation's embassy in Israel was moved to Jerusalem in mid-2021 by decision of now former President Juan Orlando Hernandez, considered a staunch ally of Washington, who left power in January and was extradited to the United States on drug trafficking charges.

Bolsonaro election concerns stall U.S. Javelin missiles sale to Brazil WASHINGTON/RIO DE JANEIRO - A Brazilian military request to buy Javelin anti-tank missiles worth as much as $100 million has been stalled in Washington for months due to U.S. lawmakers' concerns about far-right President Jair Bolsonaro, including his attacks on Brazil's electoral system, multiple U.S. sources told Reuters.

Brazil's bid to acquire some 220 Javelins was originally made when former President Donald Trump, a Bolsonaro ally, was in the White House. The State Department gave its blessing to the proposal late last year, despite objections from some lower-ranking U.S. officials, according to two people familiar with the matter. (Compiled by Steven Grattan and Brendan O'Boyle; Editing by Marguerita Choy and Sam Holmes)

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