Argentina’s President, Javier Milei, suffered a legislative setback this week when his proposed economic reform package failed to receive senate approval and was returned to the legislative committee for further consideration, according to a statement from the president’s office.
The package includes Milei’s controversial “Bases and Starting Points for the Liberty of Argentines” omnibus bill and Decree 70/30, which provides the president with sweeping authority to amend or revoke laws in response to economic crises. This move has sparked criticism from legal professionals over potential constitutional issues. Earlier this year, millions of workers demonstrated against Milei’s policy proposals in a general strike.
The president, a self-proclaimed “anarchy-capitalist,” has advocated an economic reform agenda centered on shock therapy, severe austerity, and privatization. The omnibus bill, which has undergone significant modifications by legislators, proposes dramatic changes across a range of areas, including legal provisions for the privatization of state organizations and reductions in public spending.
After the blocking of the reform bill, Milei voiced his disapproval on social media, blaming opposition politicians for working against Argentinian citizens’ interests. Conversely, his party, La Libertad Avanza, labelled resistance to the bill as treasonous.
Before the Senate can reconsider the bill, it must pass through the legislative committees of the Chamber of Deputies. Milei had hoped to gain support from the primary conservative coalition, Juntos por el cambio. The president faces an uphill battle, however, as his party holds merely seven seats in the 72-seat Senate and 38 seats in the 257-member Chamber of Deputies.