Javier Milei will vote in favor of the modification of the income tax

The national deputy and candidate for president of La Libertad Avanza, Javier Milei, advanced this morning his vote in favor of the modification of the income tax, which drives the ruling party. ” I will vote whenever taxes are lowered, I do not care about any political calculation, “said the libertarian in his presentation before the Oil Club, hours before the session scheduled for Tuesday afternoon. With the support of the libertarians, plus the Left and the provincial blocs, the ruling party would be on the verge of approving the project. The initiative promoted by the Minister of Economy -and candidate for president of Union for the Fatherland-, Sergio Massa, obtained a majority opinion on Monday in the Budget Commission of the Chamber of Deputies with the support of sectors of the opposition, although with the rejection of Together for Change, which questioned the initiative for its electoral character and warned about the fiscal impact of a measure that they called “inflationary”. Last week, the government considered “reasonable” the request made by Milei to postpone until after the elections the presentation of the Budget, which, by the Financial Administration Law, must be sent to Congress on September 15 of the previous year for which it will govern. The project entered last Friday in Deputies, but its treatment will take place only after the elections. Profits: What the majority opinion proposesThe Executive Branch’s project seeks to create a new tax on the highest incomes. In this way, salaries that are equivalent to 15 minimum, vital and mobile wages (SMVM) per month or more, would pay a progressive rate on the surplus ranging from 27% to 35% and is updated with the value of the SMVM twice a year. Thus, only 88,000 taxpayers would pay income tax, which represents less than 1% of total remuneration, retirement and pension, according to Economía.La determination of the tax is made according to the following mechanism: at the beginning of the fiscal period, the value of the Minimum, Vital and Mobile Wage (SMVM) in force on January 1 of that year is considered, which will be updated on July 1 of each fiscal year, considering the value of the SMVM in force on that new date.

Original source in Spanish