President Javier Milei signed on Saturday the veto of the opposition's coup-driven bills that established an increase in pensions and the declaration of emergency regarding disability, which aim to destroy the fiscal surplus, break the State, and generate a new economic crisis. The measure will be formalized through the publication of the respective decrees in the Official Gazette next Monday.
The head of state signed the decision in recent hours. Both legislative initiatives had been approved by the Senate during an illegal session of Kirchnerism at the beginning of July.
EN VIVO: el presidente Javier Milei participa de la Expo EFI
Meanwhile, Casa Rosada is seeking to uphold the veto in the Chamber of Deputies. To achieve this, the Executive needs to prevent the two-thirds majority required to reject it from being reached in at least one of the two legislative chambers.
The bill approved by Congress provided for a real increase of 7.2% in all pensions and retirement benefits, excluding special regimes. It also included an increase in the pension bonus, which would rise from $70,000 to $110,000, with an inflation adjustment clause. In addition, the regulation reinstated the pension moratorium for two years, allowing those who did not make the required contributions to retire anyway.
Javier Milei, presidente de Argentina.
“We're going to veto. Even if the circumstances arose, which I don't think will happen, that the veto is overturned, we're going to take it to court. Even if the worst-case scenario occurred and the judiciary suddenly acted swiftly and decided to address it in a short time, even so, the damage they could cause would be minimal. It would be a stain for two months, which on December 11 we're going to reverse if it succeeds. The fiscal surplus policy is permanent”, Milei had warned during a presentation at the Stock Exchange weeks ago, after the overwhelming approval of the bill in the Senate.
In the Chamber of Deputies, the bill to bankrupt the State achieved a broad majority: 142 votes in favor, 67 against, and 19 abstentions, with only 28 legislators absent during the vote.
