AssetID: 55459710
Headline: UNCAPTIONED: Argentina Senate Passes Milei's Labor Reform in Major Step Forward for Economic Overhaul
Caption: Argentina Senate Passes Milei’s Labor Reform in Major Step Forward for Economic Overhaul. Argentina’s Senate approved President Javier Milei’s labor reform bill early Thursday, marking a key milestone in his economic agenda. The bill passed with a 42-30 vote, sending it to the lower house for further debate. Milei’s administration made 28 concessions to win support, including removing a controversial tax cut for employers. Protests broke out outside the Senate with Molotov cocktails thrown at riot police, who responded with tear gas and water cannons. Investors are closely monitoring the bill’s progress, seeing it as a signal of Milei’s political strength and a step towards re-engaging international markets. The reform aims to lower employer costs, encourage hiring, and overhaul Argentina’s outdated labor laws. Despite changes, the reform remains one of the largest economic overhauls in decades, affecting labor rights, taxes, and employment contracts. Milei’s push to reduce government jobs also continues with a planned 80,000 public sector cuts. While economists say the reform is overdue, the country’s formal job sector has seen a decline in salaried jobs since Milei took office. The reform’s success could set the stage for other planned structural reforms, though the timeline has been delayed. Instructions: THIS VIDEO MUST NOT BE EDITED FOR LENGTH TO COMBINE WITH OTHER CONTENT
Keywords: Current Affairs & Politics,Javier Milei,Argentina labor reform,Senate,2028 economic overhaul,job losses,austerity measures,tax cuts,government jobs,protest,sovereign risk,economic recovery,Glacier Law,copper mining,environmental protections,social-security contributions
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