Argentine President Javier Milei Proposes Sweeping Reform Bill
By Lucinda Elliott and Jorgelina do Rosario
Proposed Reforms in the Bill
Argentine President Javier Milei has sent a reform bill to Congress proposing significant changes to the country’s tax system, electoral law, and public debt management. The bill includes 664 articles covering a wide range of reforms, such as the privatization of public companies, the elimination of the presidential primary vote, and the introduction of a broad 15% tax on most exports.
Key Changes in the Bill
The proposed reforms also include raising export taxes for soy and its derivatives, introducing tax amnesties for undeclared assets, and removing limits on sovereign bonds issued overseas. Additionally, changes to the proportional representation electoral system are being considered, which would impact the distribution of lawmakers in different districts.
Milei’s Presidential Decree
Last week, President Milei issued a presidential decree to deregulate the economy, which includes ending export limits. Unlike the reform bill, the presidential decree does not address changes to the tax and electoral system and must go through a legislative commission to weigh its constitutionality.
Passing the Reform Bill
Milei’s government has called for extraordinary sessions to expedite the reform agenda, which is scheduled through January 31. The proposed measures require an absolute majority and may face challenges in the legislative process due to the government’s minority position in both the lower house and the Senate.
Challenges Ahead
Milei’s coalition holds a small minority of seats in Congress, making it necessary to rally support to move the reform bill forward. Opposition movements have already organized demonstrations against Milei’s agenda, indicating potential challenges in advancing the reform agenda.
(This story has been refiled to fix the senior analyst’s quote in paragraph 17)
