A Argentine Chamber of Deputies approved on Tuesday (19). Income tax reform proposed by the Minister of Economy and candidate for President, Sergio Massawhich exempts from tax anyone who earns less than 1.7 million pesos, about 23,971 reais.
With the reform, less than 1% of Argentine taxpayers will have to pay the tax, which corresponds to 90,000 people. According to the Argentine government, since the measure costs a billion dollars annually to the state treasury, it must be compensated for by the eventual growth in income and consumption in the country.
With 135 yes votes and 103 no votes, the project was ahead Support from Javier Milei, presidential candidate of the radical right. Leading the polls, he said he agreed with “any initiative that involves cutting taxes.”
Election campaign for Patricia Bullrich, the former president Mauricio Macri criticized the radicals who voted for mass income tax reform and stated in an interview with the Argentine press that “populism is very contagious.”
Macri said the initiative was “electoral nonsense” and “supporting it is irresponsible.”
The former security minister Bullrich classified the project as “electoral” and “irresponsible”.
With the chamber’s approval of the income tax reform, the project now goes to the Senate.