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  • A screen shows the 133 affirmative votes, 115 negative votes, and 2 abstentions with which the bill was approved in the Congress, Buenos Aires, Argentina, Nov. 17, 2020.

    A screen shows the 133 affirmative votes, 115 negative votes, and 2 abstentions with which the bill was approved in the Congress, Buenos Aires, Argentina, Nov. 17, 2020. | Photo: Twitter/ @DiputadosAR

Published 18 November 2020
Opinion

With 133 affirmative votes, 115 negative, and 2 abstentions, was approved the bill, which seeks to help mitigate the effects of the pandemic.

Argentina's Chamber of Deputies in the early morning of this Wednesday approved an extraordinary tax on wealth, which has as its main aim to face the effects of the coronavirus pandemic in the South American country.

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The initiative, promoted by  President Alberto Fernandez's government, will now be sent to the Senate -where the ruling party has a majority- for discussion and eventual approval.

With 133 affirmative votes, 115 negative, and 2 abstentions, was approved the bill on Solidarity and Extraordinary Contribution, which seeks to help mitigate the effects of the pandemic.

"Congress is discussing how those who have more money can help the rest of the Argentines amid the COVID-19 emergency. This is the real debate."

With the tax, the Government intends to reach fortunes of over US$2.5 million. It proposes to apply to them a progressive rate of two to 3.5 percent according to the patrimonial capacity.

It is estimated that US$3.7 billion will be collected from larger fortunes, 34 percent of all that the State invested to ease the coronavirus pandemic.

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