BUENOS AIRES (Reuters) - Argentina's lower house on Tuesday passed a government-backed bill to cut taxes on high-income earners, a move that would erase about one trillion pesos ($2.8 billion) from state coffers in 2023, according to official estimates.
The bill, which must now go through the Senate, passed with 135 votes in favor and 103 against.
"Salaries are not profit," Economy Minister and presidential candidate Sergio Massa wrote on social media platform X following the vote.
Opposition lawmakers blasted the move, saying the proposed tax cut aims to benefit Massa's presidential run for the October election.
The South American nation is grappling with triple-digit annual inflation, with analysts polled by the central bank setting it at 169.3% at the end of the year.
Persons:
Sergio Massa, Javier Milei, Milei, Eliana Raszewski, Juan Bustamante, Walter Bianchi, Valentine Hilaire, Sonali Paul
Organizations:
BUENOS AIRES, Reuters
Locations:
BUENOS