Argentina
The Senate will meet without the Central Bank reform and will advance with Inocencia Fiscal II
The upper chamber agreed to debate the Government’s tax bill, biofuels and judicial nominations this Thursday. The initiative to amend the BCRA’s charter was left off the agenda for lack of agreement.
The Senate agreed to meet this Thursday starting at 11 a.m. with an agenda that will include the Inocencia Fiscal II bill, an initiative on biofuels and judicial nominations, while the reform of the Central Bank’s charter was postponed for later.
According to iProfesional and Clarín, the decision was made at the Parliamentary Labor meeting, after the ruling party failed to gather consensus to bring the BCRA bill to the floor, despite already having half approval from the Chamber of Deputies and a committee report in the Senate.
According to iProfesional, one of the main obstacles stems from disagreements over the mechanism for appointing and removing Central Bank directors. That outlet also noted that the absences of senators Juan Carlos Pagotto and Francisco Paoltroni, added to Peronism’s rejection and tensions with allied blocs, complicated the ruling party’s strategy.
Clarín also reported that there are allies calling for changes to the text and that, if those adjustments move forward, the bill would have to return to the Chamber of Deputies.
The Inocencia Fiscal II initiative now appears as the Government’s main bill in the session. The text amends the regime in force since January and seeks to expand the possibilities for declaring undeclared foreign currency. Among other changes, it eliminates income and asset caps to join the simplified regime, redefines the criterion of “significant discrepancy” that triggers ARCA checks, and maintains restrictions for officials, lawmakers and magistrates.
In the same session, the biofuels bill, promoted by dialogue-oriented blocs, will also be debated. The proposal extends the regime’s validity for 15 years and raises the mandatory blending percentages for biodiesel and bioethanol, although discussions are still ongoing over some points linked to the small and medium-sized business sector, according to iProfesional.
Judicial nominations will also be put to a vote. Among them are Juan Pedro Galván Greenway and Alejandro Javier Catania, mentioned by iProfesional and Clarín as candidates for the National Chamber of Appeals in Federal Economic Matters. Clarín added that the nomination of Juan Manuel Mejuto was also included.
The postponement of the Central Bank reform represents a setback for the Government of Javier Milei, which assigns that project a central place within its economic program.
Fuentes
About this note. Written by El Notero with the assistance of artificial intelligence, based on what was published by the cited outlet. El Notero did not do its own reporting on this event.
