Argentina: Milei's veto of $15 pension raise upheld

The Lower House of Argentina's Congress voted to uphold President Javier Milei veto overturning a $15 pension increase that had been approved by both chambers.

Overturning the veto would have required a special majority of two thirds of deputies (85 votes needed to uphold the veto). Ultimately, 87 voted against overturning and 153 in favor, while eight abstained.

Most of the opposition voted for the raise when it was first debated; but some deputies from the center-right UCR party changed their position - including one, Pedro Galimberti, who resigned after being revealed to have accepted a lucrative government contract in dollars.

On August 22, the Senate approved a pension formula reform that the Lower House had passed in June. The new law established a hike of AR$15,000 (US$15) and guaranteed to prevent retirees’ income from falling behind inflation - which, while slowing, remains at 237%.

Congressman Germán Martínez, leader of the Peronist opposition Unión por la Patria caucus, argued that Argentina could afford the pensions raises. “All the calculations that we and the Congress budget office did […] said that it was absolutely sustainable,” he told the C5N news channel.

“Today, La Libertad Avanza [Milei’s coalition] didn’t know how to defend a president who never said that he would impose austerity measures on pensioners, and who is now managing for 30 in every 100 pesos that he cuts to be paid for by retirees.”

Outside Congress, protesters gathered to demand Milei’s veto be overturned. After the vote, police used tear gas and water cannon against the demonstrators. Previous protests by pensioners in recent weeks have likewise been met with a violent police response.

At: https://buenosairesherald.com/politics/milei-set-to-get-major-win-as-deputies-convene-to-debate-veto-of-pension-raise

Argentina's National Gendarmerie - a militarized police force controlled by the president - quashed protests by retirees and left-wing activists in Buenos Aires on Wednesday.

Far-right President Javier Milei had vetoed a $15 emergency hike passed by Congress for the $307 minimum standard pension collected by over half of retirees - around a third of the poverty line.