He Argentine President, Javier Milei, is preparing to achieve his first legislative victory this Thursday with the approval of his economic reform package by Congress, although reduced after many changes over months of debates.
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The Chamber of Deputies of Argentina will analyze from noon (10 am, Colombia time) the modifications introduced by the Senate to the so-called ‘Bases Law’.
With this law, Milei will obtain the delegation of legislative powers for one year, incentives for large investments for 30 years, a relaxation of labor legislation and authorization to privatize a dozen public companies, among other points.
Specifically, the project declares a public emergency in administrative, economic, financial and energy matters for a period of one year, giving the Executive delegated powers in these matters.
The Chamber of Deputies of Argentina will analyze from noon (10 am, Colombia time) the modifications introduced by the Senate to the so-called ‘Bases Law’.
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The deputies will also review a package of tax reforms, both Executive projects that can finally become law after a tortuous process which returned them to the Lower House as a review body for the changes.
The government does not have majorities in either chamber, which forced it to conduct arduous negotiations with allies.
The long road of the Bases Law in Congress
Originally, The ‘Bases Law’, which Milei launched with pomp as the foundation of his government plan, contained more than 600 articles with liberalization and deregulation reforms of the economy.
But after a failure last February, The project was reduced to 238 articles that were also modified in the Senate, alterations that this Thursday the Chamber of Deputies can accept or reject.
To achieve approval, the government removed from the list of companies to be privatized the flag airline Aerolíneas Argentinas, Correo Argentino and Radio y Televisión Argentina (RTA), which controls Public TV and National Radio with 40 repeaters.
Javier Milei
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Nor did the reform of the pension system succeed, which involved eliminating a moratorium that benefits those who, upon reaching retirement age, cannot prove 30 years of contributions in a country in which almost half of the workers work in the informal market.
One of the most contentious points is the tax issue, after the Senate removed a reform to the income tax from the tax package.s that would allow the treasury to reinforce income deteriorated by the recession of the economy.
The Chief of Staff, Guillermo Francos, anticipated that the ruling party will insist on approving the original text in a debate that is expected to be extensive.
The area surrounding Congress was fenced off to prevent protests and incidents such as those that occurred during the debate in the Senate.
Protests in Argentina.
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The deputies can accept the Senate’s modifications or reject them and insist on the original text, Then the Executive must promulgate the law or may veto it totally or partially.
According to sources from the Lower House, a meeting of the heads of the various blocks will be held prior to the session to coordinate how the debate will develop.
The ruling force La Libertad Avanza, a minority in Parliament, would have the support of the so-called “dialogue opposition” to achieve the final approval of the bills, which are rejected by the Left Front and the Peronist front Unión por la Patria .
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