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The lawmakers remarked on the importance of the tax since hundreds of low and middle-income families have seen their finances affected amid the COVID-19 pandemic. At the same time, the largest fortunes continue to increase.
Chile's Chamber of Deputies approved landmark legislation on Wednesday to tax super-rich individuals and allocate this money to financing a basic emergency income.
Lawmakers voted 105- 18 in favor of the bill, and there were 26 abstentions. The deputies remarked on the importance of the tax since hundreds of low and middle-income families have seen their finances affected amid the COVID-19 pandemic. At the same time, the largest fortunes continue to increase.
"In our country, 2 million 300 thousand middle-class families have become vulnerable, while unemployment increases, income falls and the cost of living increases, yet the eight richest people in the country, including President Piñera, increase their fortune by more than 70 percent according to Forbes," lawmaker and author of the bill Raúl Soto explained.
The approval has been largely welcome, yet Chileans turned to social media to notice that a "one-time-only" tax on the super-rich does not solve the problem of financing the emergency income and demanded that top officials renounce their privileges and part of their salaries instead.
The bill now moves to different commissions for indications and negotiations and then to a possible Senate vote before it becomes law.