Freedom Advances is preparing for a new defeat, after having celebrated the approval of the Base Law and the tax package in it Senate. According to parliamentary sources, the upper house is heading to deal with the new retirement formula during the next week. This is a project that has been resisted by the ruling party and could be vetoed by the president. Javier Milei.
This week that begins there will be almost no activity due to the holidays—there are only two business days. This period will give the Government time to celebrate the victory and begin to assimilate what is to come.
“We already have the retirement bill, we are going to discuss it in the committees and no matter how much we stretch it, it will reach the chamber and we will lose“, explained a libertarian senator to the media Infobae.
The pension reform obtained 160 favorable votes in Deputieswhich showed the union between the dissident Peronism of Hacemos Coalificación Federal, the Peronism of Unión por la Patria and the Unión Cívica Radical.
It is expected that this union will be repeated in the Senate. The block of Union for the Homeland will contribute 33 votes to please, that of UCR -author of the project- will contribute another 13. Only with these two blocks is the sanction guaranteed with 46 votes – 37 are needed to have half plus one.
But you can advance to get two thirds since, following the reasoning of what happened in the Lower House, the missionaries of the Front for Concord, those of the Por Santa Cruz bloc and the senator Monica Silva from Rio Negro, which would give a total of 51 votes in favor. Plus the three senators from the Federal Unit total 54, easily passing two-thirds of the Chamber.
The opposition to the norm will remain in the seven senators from La Libertad Avanza and there is doubts regarding whether the six senators from the PRO would accompany. In Deputies, and with the idea of not voting against, some were absent at the time of the vote.
But the result you are predicting is a confrontation between the Legislative Branch and the Executive. The president already said that he was going to veto the law and made reference to the deputies who voted for it, calling them “fiscal degenerates.” Likewise, the machinery of the ruling party was launched to point out that the rule violates the economic program.
Retirement mobility in the Senate: what modifications does the project impose
The initiative approved in Deputies aims to create a mobility formula that repair the brutal adjustment of these months.
– The minimum asset should not be less than the value of a basic basket for the elderly, which is currently 285 thousand pesos.
– An extra payment of 8 percent to reach 20.6 percent of January inflation. The government had only given 12.5 applying its retirement mobility index.
– The mobility formula would be tied to the Consumer Price Index (CPI), which measures inflation, and to salaries averaged in the Average Taxable Remuneration of Stable Workers (RIPTE) index.
– The update will be applied semiannually. In addition, an additional increase is established once a year, in March, for 50 percent of the difference between the salary variation and inflation.
– The debts of the provincial pension funds must be paid by ANSES or with national tax funds, such as check, COUNTRY and VAT. In other words, the ANSES Sustainability Guarantee Fund (FGS) is not touched.
For its part, The mobility formula applied by the government takes the Consumer Price Index as the only parameter. That is to say, it does not contemplate retroactive increases that repair the loss of previous months.
With information from Infobae and Página 12
