Argentina's lower house passes Milei's 'omnibus' reform bill

After days of debate, the lower house of deputies in Argentina voted in favor of libertarian President Javier Milei’s expansive “omnibus” reform bill, setting up a crucial Senate vote. With 144 votes in favor and 109 against, the contentious reform package was approved. The bill’s reforms include measures to allow for the reduction of generous state subsidies, the extension of some executive powers, and the privatization of state entities. The general approval means that the legislation will now probably move to the upper house in some capacity. Lower-house lawmakers will also vote on the legislation article by article, with voting scheduled to start on February 6. Over the past few days, flag-waving protesters opposed to Milei’s reforms have clashed repeatedly with riot police deployed outside the green-domed neoclassical congressional building, at times hurling rocks at them. “I came to see how they are selling our country,” said protester Liliana Lopez. The mammoth bill is a key plank of Milei’s reforms plans for Argentina’s embattled economy, which is grappling with inflation above 200%, depleted foreign currency reserves and a time-bomb of debt repayments owned to creditors and investors. Passing its initial hurdle in the lower house of Congress, the legislation marks the president’s first major test since taking office in December after a shock election win for the economist who made his name as an acid-tongued TV pundit and campaigned with a chainsaw pledging to slash the size of the state. The vote followed a long and heated debate in the lower chamber, with deputies for the main center-left Peronist opposition bloc, Union por la Patria, voicing fierce rejection of Milei’s policies while supporters urged them not to obstruct the bill. Milei’s La Libertad Avanza party only holds a small number of seats in the 257-seat chamber, but was still able to muster enough support from likeminded allies including from the main center-right Juntos por el Cambio coalition of parties to advance the bill. Last week, Milei’s government yanked some divisive spending reforms contained within the fiscal section from the bill in what turned out to be a successful maneuver to boost support for it. (With inputs from Reuters)