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Argentina Senate Passes Wealth Tax Bill: Nacion

Dec. 5, 2020, 1:36 AM

Argentina’s Senate approved a wealth tax bill, which seeks to raise money to combat the effects of the coronavirus, Buenos Aires-based La Nacion reported.

  • NOTE: The bill was spearheaded by lawmakers Carlos Heller and Maximo Kirchner, the son of Vice President Cristina Fernandez de Kirchner
  • Pro-govt majority in Senate led the way to approval, with 42 votes in support and 26 against
    • Opposition in Senate argued that the law would hinder business investments
  • Bill would tax wealth of more than 200 million pesos, with which the govt seeks to collect 300 billion pesos
    • Money will go to a fund ...