Deputies of Argentina Approve Law of Bases and Starting Points for Freedom
In a special session, the Deputies of Argentina approved the "Law of Bases and Starting Points for the Freedom of Argentines" with 147 positive votes against 107 negative votes and with 2 abstentions. The modifications made by the Senate to the project have now achieved definitive sanction.
Milei’s Flagship Law and Six-Month Parliamentary Journey
The treatment of the law in the Committees (Budget and Finance; Criminal Legislation; and Constitutional Affairs) lasted 79 hours and was attended by 17 national officials who participated in the debate sessions. The debate in the chamber lasted about 64 hours of session.
Additional Projects Approved
Meanwhile, the project on Palliative and Relevant Fiscal Measures sent by the Executive Branch and with the approval of the Senate was also approved with 144 votes in favor, 108 against, and 3 abstentions. The chapters of the version of the law that came out of the Lower House on April 30, on the restitution of the Income tax for the fourth category and the changes in Personal Assets, were also approved.
Key Provisions of the Law
The law declares a public emergency in administrative, economic, financial, and energy matters for a period of one year, includes the reform of the State, labor modifications, and delegates legislative powers to the Executive. The rule also provides for the creation of an incentive regime for large investors, introduces a limited labor reform that advances the elimination of fines for employers, extension of the trial period, creation of a labor termination fund, and establishing that blocks of companies may be considered the cause of dismissal.
Government Celebrates Progress
The Argentine government celebrated the progress of the law, assuring that the initiative paves the way for the country to "recover prosperity" after the catastrophic situation that the new Government inherited in December.
Next Steps
After this legislative step, the rule will be sent to the Executive for promulgation, which may occur through a decree or in fact. In both cases, the law must be published in the official gazette for its entry into force.