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Lower House Passes Bill To Cut Taxes On High Incomes, Goes To Senate

ARGENTINA
  • Reuters reported that the lower house on Tuesday passed a government-backed bill to cut taxes on high-income earners, a move that would erase about one trillion pesos ($2.8 billion) from state revenue in 2023, according to official estimates. The bill must now go through the Senate, and if approved, around 800,000 people would have their taxes significantly reduced.
  • Opposition lawmakers have voiced their disapproval of the move, saying the proposed tax cut aims to benefit Massa's presidential run for the October election. Additionally, far-right lawmaker Javier Milei, the candidate leading the polls for the upcoming vote, also supported the measure, but said the timing attaches a political motive.

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