After the general approval of the Omnibus Law by the Chamber of Deputies, the Argentine Business Association released a statement in which it maintained that the progress of the draft Law of Bases and Starting Points for the Freedom of Argentines “represents a very important step.”
“This decision adopted within the framework of the institutions that make up our National Constitution contributes to clearing up uncertainty since, as we have repeatedly stated, the republican and federal representative system of government is the central foundation of our political and social life and the factor crucial for the performance of the private sector,” the document continued.
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And he added: “In Argentina it is essential to generate the conditions that promote investment decisions and make possible the full mobilization of the capabilities and energies of the business community, since companies are the main generators of employment for Argentines, those that produce goods and services that supply the internal market, those that generate foreign currency through exports, as well as those that, together with citizens, support the functioning of the State through taxes.”
Omnibus Law: how the legislative process continues
The statement from the business association came after the Chamber of Deputies generally approved the Omnibus Law by 144 votes in favor and 109 against, after three days of debate in the chamber. The official project had the support of the PRO, the UCR, We Make the Federal Coalition and Federal Innovation. Instead, it was rejected by the Union for the Homeland bloc and the left.
Although the legislative process has advanced, it is far from over. On Tuesday the debate will resume and votes will be taken individually, that is, point by point. The final text has just over 220 articles, compared to the 664 that the original project had. Negotiations will continue this weekend and on Monday to try to obtain the greatest amount of support in the particular evaluation, since several articles were questioned by different deputies.
Deputies approved the Omnibus Law, in general, with 144 affirmative votes. (Photo: Télam).
The ruling party and the “dialogue” blocs still have to overcome differences on privatizations, the delegation of powers, the Guarantee Fund and the sharing of Country Taxes, a key issue for the provinces and the negotiation with the governors. However, the Government believes that 90% of the remaining articles of the Omnibus Law will be approved.
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If the particular article is approved, the project will be sent to the Senate, which can approve, reject or return it with its corrections. If any modification is made and Deputies accept it, the text will be approved by the reviewing chamber, in this case the Senate. But if Deputies insist with the original wording, they will need to reach the same majority of 144 votes or a higher one than that of the Senate for the text they approved on Friday to be sanctioned.