Argentina’s upper house narrowly passed a controversial bill that is key to President Javier Milei’s economic reform plans. The bill includes radical measures on privatisation and tax breaks for investors. The Senate was divided, with a tie-breaking vote from Vice President Victoria Villarruel ultimately deciding the outcome. This decision sparked protests in the streets, with clashes between protesters and police, resulting in injuries and arrests. Milei, a self-proclaimed “anarcho-capitalist”, celebrated the victory as a step towards the recovery of Argentina’s greatness.
The bill is central to Milei’s efforts to overhaul the struggling economy, which has been exacerbated by executive measures such as subsidy cuts and public sector layoffs. The reform bill, which includes a state of economic emergency declaration and privatisation of public companies, received pushback from both right-wing and left-wing lawmakers. Critics argue that the bill weakens labor protections and reduces retirement allowances, potentially exacerbating the already high levels of poverty and inflation in the country. Despite opposition claims that the bill will reverse decades of progress, it was passed by the lower house and awaits a final vote in the Senate.
The bill has sparked widespread opposition from various sectors of society, including social organizations, political parties, retirees, teachers, and labor unions. Protesters fear that the bill will lead to further job losses and price increases, impacting their livelihoods and rights. Social leader Luis D’Elia expressed concern that the bill has failed in the past and should not be allowed to harm the Argentine people. Teacher Miriam Rajovitcher highlighted that the law would negatively impact her labor and pension rights, leaving her in a worse position. The contentious nature of the reform bill reflects the deep divides within Argentine society regarding economic policies and government actions.
President Milei’s victory in passing the bill signifies a significant milestone in his ambitious legislative reform agenda. Despite facing resistance in Congress, he has managed to push through key measures aimed at reviving the economy. The bill’s approval by the Senate is a step towards implementing tax incentives and foreign exchange measures to attract investments in the country. The reforms, if fully implemented, could have far-reaching implications for Argentina’s economic recovery and future direction. Milei’s unconventional approach to governance and economic policy has drawn both praise and criticism, reflecting the complexity of Argentina’s political landscape and the challenges ahead for the country.
