Last night, the Senate approved the 15-PE-2016 bill, known as President Mauricio Macri’s “mega project” — a bucket load of proposals including a retirees’ pensions bill and a tax amnesty. The “mega project” was approved by 56 votes to 11 in a special session that lasted nine hours.
The proposals in 15-PE-2016 (mega project) include:
- A tax amnesty aimed at getting Argentines to declare previously undeclared assets (by assets we mean any form of wealth ranging from dollars to properties) in Argentina as well as abroad. The idea is that the money collected, an expected US $20 billion, from these taxes will fund the other initiatives in this mega project, notably retirement funds. Read more: ‘Mega Project’: Government Proposes Tax Amnesty For Undeclared Assets
- A bill to pay retirees’ unpaid pensions and pay for their pending lawsuits. The government is hoping to fund this compensation with the aforementioned tax amnesty and ANSES’s Sustainability Guarantee Fund (FGS) (a fund created in 2008 as a safeguard to guarantee that retirees’ income be paid). Read more: ‘Mega Project’: Bill Proposes To Pay Retirees’ Overdue Pensions And Trials
- The agreement on a legislative framework to pay all the provinces according to the federal co-participation system (by which the State and the provinces divide the total tax revenue between the provinces and national entities). It also has to be ratified in each province’s legislature to become official. Read more: ‘Mega Project’: Federal Co-Participation Agreement Sent To Congress
The head of the FpV Senate caucus, Miguel Ángel Pichetto, stated that:
“Some aspects of the project may be questionable but [it] undoubtedly has the objective of [demonstrating] President Macri’s commitment to answering the 300,000 pending claims in good time and form with pensioners.”
All that’s left now for the bucket load of proposals to become law is Macri’s signature (which, given that he presented them, shouldn’t be too hard to obtain.)