After days of horse-trading, ruling coalition La Libertad Avanza (LLA) has announced the final modifications to the massive reform package known as the “omnibus bill,” President Javier Milei’s flagship legislation. It establishes that pensions will be indexed to inflation, removes controversial articles on issues such as electoral reform, and limits the president’s power to modify export duties, among other changes.
The bill was reduced from 664 articles to 523, meaning that 141 have been removed, according to a document summarizing the changes that was circulated on Monday.
Given the disagreements they prompted, some major reforms will be addressed in Congress separately, once it resumes sessions after the winter break. This includes changes to mental health laws, the creation and management of political parties and the creation of companies, as well as the proposed abolishment of the “PASO” primary elections. Half of the proposed modifications to the Civil and Commercial Code will now be addressed during ordinary sessions.
While the original bill abolished the formula used to calculate pensions, allowing the executive power to raise them via decree, the new version establishes monthly increases indexed to inflation, starting April 2024.
Most changes were agreed with other coalitions’ blocs in the Chamber of Deputies in the past four days, although some were made directly by LLA, deputy Lisandro Almirón of the ruling coalition told the Herald.
“This is a result of a week of negotiations and of the proposals made by opposition blocs, and not just LLA’s,” another LLA source said. “The notes taken during all those negotiations were taken into account.”
The final draft confirms that state oil and gas producer YPF is off the list of state companies up for privatization and reduces the scope of the proposed state of emergency. If the bill is approved, Milei would now have legislative powers for one year instead of two, and Congress would be able to extend that period for another year.
Milei said Monday he expects the omnibus bill to be debated in the Lower House on Thursday. “We haven’t given anything up, we just made it better, always taking fiscal balance into account,” Milei told Rock and Pop radio station.
You may also be interested in: LLA modifies Omnibus bill: YPF to stay in public hands, emergency powers limited
Pensions, elections, mental health: LLA releases ‘omnibus bill’ reforms
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22.01.2024
After days of horse-trading, ruling coalition La Libertad Avanza (LLA) has announced the final modifications to the massive reform package known as the “omnibus bill,” President Javier Milei’s flagship legislation. It establishes that pensions will be indexed to inflation, removes controversial articles on issues such as electoral reform, and limits the president’s power to modify export duties, among other changes.
The bill was reduced from 664 articles to 523, meaning that 141 have been removed, according to a document summarizing the changes that was circulated on Monday.
Given the........
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