2024-07-21 05:38:54
The initiative approved early this morning by the Argentine Chamber of Deputies includes the main economic reforms promoted by the president.
The Argentine Congress approved this Friday the so-called Law of Bases and Starting Points for the Freedom of Argentineswhich includes the main economic reforms promoted by President Javier Milei.
After debating until dawn, the Argentine Chamber of Deputies supported the legal initiative by 148 votes in favor and 107 against.
In this way, the trans-Andean leader managed to get the legislators They will be granted legislative powers for one yearthat labor legislation be made more flexible and that it be authorized to proceed with the privatization of a dozen public companies.
According to what is established in the Argentine Constitution, the legislative delegation approved by Congress gives the Government the power to exercise powers such as the approval of certain lawsin addition to the adoption of exceptional measures in administrative, economic, financial and energy matterss, which the Magna Carta of that country gives to the Legislative Power.
According to what was stated by Milei’s entourage, the president intends that the changes approved by Congress come into effect next week.
The keys to the Basic Law
According to what was reported by the Argentine press, There are seven keys to which we must pay more attention in the Basic Law.
Specifically, it is about:
- Privatization of public companies: includes the energy companies Enarsa and the transport company Intercargo, as well as the Railway Operating Company, among others. Aerolíneas Argentinas, the postal company and public media are excluded.
- Public organisms: Javier Milei’s government will be able to order the dissolution or merger of various public bodieswith exceptions, such as those linked to health and culture.
- Employment relationship: among other aspects, it authorizes the Dismissal in cases of blockades or company takeovers and extends the trial period in a job from three to six months.
- Foreign investment: with the purpose of attracting foreign investments, implemented a Large Investment Incentive Scheme (RIGI).
- Income tax: resets it for the single people who receive gross salaries of 1.8 million of weights and the married people who have an income of 2.3 million of gross weights.
- Money laundering: allows entering assets into the financial system without paying the proportional amount under 100 thousand dollars.
- Personal property tax: raises the non-taxable minimum from 27 million to 100 million pesos. Taxpayers who fulfill their duty will receive a 0.5 percent reduction of the proportional amount they must pay.