The Minister of Economy, Luis Caputo, held a press conference this Friday to announce that The Government decided to withdraw the fiscal chapter of the Omnibus Law to achieve approval of the project in Congress.
These are chapters that include withholdings, money laundering, changes in Personal Assets and Profits, and changes to the retirement formula, among other. The minister confirmed that they will comply with the zero deficit, meaning that the adjustment will be deepened. Privatizations are maintained, delegated powers remain, and the liquefaction of retirements continues because the mobility formula of the Frente de Todos is maintained.
This Thursday, Minister Caputo met with business chambers who questioned the increase in taxes and withholdings, while supporting the labor reform. Thus, the Government gave in to the employers’ demand and maintains the anti-worker reforms such as the labor reform that is in the DNU, and inflation accelerates thanks to the Caputo devaluation, which liquefies salaries, pensions, and savings.
They listened to the ceraleras and large exporters. They come for the retirees, liquidating salaries due to inflation, the salary, the FGS, public companies, the right to protest, labor reform (DNU), superpowers for the monarch. This plan must be defeated in the streets.
— Nicolas del Caño (@NicolasdelCano) January 26, 2024
Agrarian employers celebrate, the agro-exporters because they will not raise export duties. The main soybean exporting companies are Viterra Argentina SA, Cargill SACI (USA), Aceitera General Deheza SA, Molinos Agro SA, Louis Dreyfus Company Argentina SA, Bunge Argentina SA, Cofco International Argentina SA.
After Caputo’s press conference through a statement from the Office of the President, the Government insists on approving the law. “The announced measure guarantees that there are no reasons to delay the approval of the law. The tax chapter can be discussed later,” Milei stated.
“In addition, it is emphasized that it will be necessary to advance in the adjustment of the policy as Argentines are adjusting because the Government’s commitment to zero deficit is unbreakable,” the statement added. But the truth is that Milei lied during the election campaign, he did not conform to caste or politics but to the working people.
We must fight to bring down the entire Omnibus Law, the DNU and the entire chainsaw plan against working people.
The delegated powers remain. Monkey with knife.
— Myriam Bregman (@myriambregman) January 26, 2024
Caputo says he would withdraw the tax package. We must fight to bring down the entire Omnibus Law, the DNU and the entire chainsaw plan against working people.
— Nicolas del Caño (@NicolasdelCano) January 26, 2024
Caputo stated that “there is dissent in the economic chapter, we have listened to all of them and we share many of those complaints. We have had to make uncomfortable decisions to reach zero deficit, but in no way do we want this fiscal chapter to delay what we believe is necessary and urgent” and added that “based on this situation, we have decided to withdraw the fiscal chapter from the Base Law to facilitate its approval. This will speed up times and facilitate the situation for many governors.”
The Minister of Economy responded that The fiscal package includes money laundering, the moratorium, the advance of Personal Assets, the Profits law, withholdings and the change in the retirement formula. “This is what would be retired. There is consensus in Congress that the rest of the package is beneficial for the country,” she said.
If income is lost, it is likely that the Government will intend to deepen the fiscal adjustment to meet the IMF’s goals. At the end of the conference, Caputo declared that “we will evaluate new measures and try to reach a consensus on them with the governed and legislators in the future. This is a government that listens, it is what we must do. Despite the screams in Congress, we heard them. We agree with those claims. Some interpreted it as a fight with governors, that is not the case. How can I not understand a governor who wants to defend the interests of his province?
Caputo exposes the regression of the gno in important points, in the Juan Domingo Perdón way.
The essential adjustment remains in place: the liquefaction of retirements, not thanks to a new formula, but thanks to the mobility of the FdT (JxP)
Important details remain: delegation of powers…
— Pablo Anino (@PabloAnino) January 26, 2024
The attack of the Omnibus law continues
The Omnibus law It preserves a long list of attacks on women, workers, and working people and preserves benefits for business owners. The Incentive Regime for Large Investments is maintained, which includes tax, exchange, fiscal, and customs benefits for large businessmen. What will happen to the Anses Guarantee and Sustainability Fund (FSG)? Is the official plan to liquidate it maintained?
In addition, the bill introduces definitions in the Thousand Days Plan and the Micaela law, which seek to deny the existence of trans people; reduce women to the maternal function; reject the scientific notion of “gestation” to return to the debate already settled on the conception of life, and eliminate the concept of “gender violence”, to replace it with the euphemism of “family violence.”
For their part, more than one hundred environmental organizations expressed their concern and repudiated the Omnibus Law that seeks to erase the achievements embodied in the legislation by the socio-environmental struggle for decades such as “enabling economic activity in the periglacial zone”, which benefits the mining sector, among other. The adjustment to culture is also maintained, affecting cultural workers and artists throughout the country.
We must confront Milei’s war plan against the working people. The national strike last Wednesday was a first step, but it is necessary for the union centers, the CGT and the CTA to call for a new national strike and a plan of struggle to defeat the adjustment in progress with the mobilization.