After another clash with Bullrich, Villarruel sends Central Bank, tax amnesty and patent bills to committees

A week-long delay in Argentina’s Senate has triggered another clash between Vice President Victoria Villarruel and government leader Patricia Bullrich, as four lower-house bills finally moved to committees.

The measures passed the Chamber of Deputies in its Aug. 26 session. They include a reform of the Central Bank’s charter, the Inocencia Fiscal II bill, legislation linked to the Patent Cooperation Treaty and the so-called Joaquín Law. Villarruel’s decision to wait before assigning the bills to committees angered Bullrich, who had already criticized delays in the Senate agenda after an attempt to issue a report on the Súper RIGI failed.

The Central Bank proposal, promoted by President Javier Milei, would restore monetary stability as the bank’s sole objective. It would remove other missions established during the Kirchner administrations, including promoting employment and economically equitable development.

The bill would also eliminate the central bank’s ability to finance the state directly or indirectly. It would prohibit loans or advances to the national Treasury, provinces, Buenos Aires City and municipalities, as well as direct purchases of public debt in the primary market. Deputies approved it by 144 votes to 102, with nine abstentions. The Senate committees on Economy and the Budget will consider it.

Villarruel sent Inocencia Fiscal II to the Justice and Budget committees. The measure seeks to bring dollars held outside the financial system into circulation. It would remove current income and wealth thresholds of 1 billion and 10 billion pesos, respectively, and define a significant discrepancy as an inconsistency involving at least 15% of the tax a taxpayer should pay. The bill also excludes people who currently hold or held certain public offices during the past five years from accessing the tax amnesty. Deputies approved it by 139 votes to 110, with two abstentions.