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Milei Unveils Labor and Tax Overhaul, Vows Post‑Election Push in Congress

The plan follows U.S. confirmation of a $20 billion swap that the government presents as stabilizing support.

Overview

  • He detailed the initiative during a closed-door visit to a steel plant in San Nicolás as labor and social groups demonstrated outside.
  • The labor bill would revise collective bargaining and curb what the government calls the "industry of lawsuits" by tightening judicial remedies in labor disputes.
  • Contracts could be set in any agreed currency, including dollars, and a bank-of-hours system would allow compensation of variable workdays.
  • The tax package targets the elimination of about 20 low-yield levies and a redesign of income tax with broader deductions to encourage invoicing.
  • Milei said he will submit the bills after the Oct. 26 elections, and U.S. Treasury Secretary Scott Bessent confirmed a $20 billion swap with peso purchases via Santander.