Buenos Aires Herald 
Argentine President Javier Milei will veto a pension raise the Senate approved on Thursday, the government confirmed in a release later that same day. The presidency claimed that the law’s “sole purpose” was to destroy the government’s economic program, calling the bill “illegal, irresponsible, and unconstitutional.”
The law the president will strike down established an 8% raise to compensate for past inflation, determined future increases be calculated according to inflation, and set the minimum pension at 1.09 times the cost of a basic goods basket. According to statistics bureau INDEC, the current basket costs AR$291.472 (US$301 at the official rate, US$226 at the MEP rate).
It also stated that pensions receive a 50% increase every March determined by an index known as Average Taxable Income of Stable Workers (RIPTE, for its Spanish initials).
“The bill approved by Congress with the consent of all political parties is a moral scam, an act of populist demagoguery, and a fiscal responsibility,” read the statement, adding that it called for “exorbitant expenditures” without any corresponding budget stipulations.
“The government is not afraid to pay whatever cost is necessary to pull the country out of the decadence they have submerged us in.”
Despite the government’s announcement, the raise could still become law if Congress decides to follow up. Per Article 83 of the Constitution, a piece of legislation struck down by the Executive Branch can be submitted for new treatment. If both chambers approve it with two thirds of the vote, the bill will automatically become law.
The pension raise could be in play, considering that this happened in both chambers. While the Lower House approved the raise last June with 160 votes in favor, 72 against, and 8 abstentions, the Senate passed the bill with 61 votes in favor and 8 against. In addition to senators from Peronist bloc Unión por la Patria (UxP), members of Unión CÃvica Radical (UCR) and Cambio Federal, as well as lawmakers from government ally PRO also approved the bill.
The Senate approval was the third blow Congress gave the government this week. On Tuesday, the opposition managed to snatch the leadership of a key intelligence committee ruling coalition La Libertad Avanza (LLA) coveted.
On Wednesday, the Lower House voted to strike down a decree issued by Milei granting intelligence services almost US$100 in funds for confidential purposes. Despite this vote, the funds still remain in place as a presidential decree requires that both chambers of Congress reject it for it to be struck down.
