The 2023 Finance Bill is now law after President William Ruto appended his signature to the controversial bill on Monday morning at Statehouse Nairobi. He was flanked by Deputy President Rigathi Gachagua, Prime Cabinet Secretary Musalia Mudavadi and Attorney General Justin Muturi.

The National Assembly passed the bill after the third reading by Molo MP Kuria Kimani who also doubles up as the chairman of the Finance and National Planning Committee,

The Azimio team tried to push through some ammendments to the bill but most of them were passed as they are, 184 legislators majority drawn from Kenya Kwanza voted in its favor while 88 voted against the bill.

The bill which is now the Finance Act 2023 takes effect immediately and it means that Kenyans will have to dig deeper into their pockets going forward in order to finance Dr Ruto’s maiden ambitious budget which is the biggest budget since independence.

The controversial budget which has attracted lamentations from Kenyans for the increased taxes, has been touted by its apologists to be the antidote that Kenya needs.

Among the most important proposals approved was a 16% value-added tax on gasoline, up from 8%. Another is the housing tax which started as a 3% housing levy but was amended to become a 1.5% tax that will go into the consolidated fund.