Chile's Congress Puts President Kast's Economic Overhaul on Track to Becoming Law
The package would cut corporate taxes, add long-term investor guarantees and face a Constitutional Court challenge from opposition lawmakers.
- On Tuesday, Chile's lower house approved most of President Jose Antonio Kast's sweeping economic reform bill, advancing his plan to stimulate growth in Latin America's wealthiest nation.
- The legislation, a cornerstone of Kast's agenda, reduces corporate taxes from 27% to 23% by 2029 and offers 10-year tax stability for investments of at least $50 million to boost a sluggish economy.
- Finance Minister Jorge Quiroz praised the "cross-party support" for the measures, while 18 organizations criticized the bill as a strategy to "privatize" natural resources without adequate environmental assessment.
- Opposition lawmakers vowed to appeal the bill to the Constitutional Court, while the package moves to a joint congressional committee to resolve a single rejected article regarding municipal compensation.
- J.P. Morgan described the law as the "most important political catalyst" for the local stock market this year, though consultancy Teneo warned the polarized debate could lead to a "contentious implementation process.
20 Articles
20 Articles
The Constitutionalist lawyer and former minister of the TC explains the reasons why he joined the opposition's offensive against the rule of tax invariability - part of the heart of Kast's mega-reform - and the reasons why it would violate article 4 of the Magna Carta.
Chile Congress passes most of Kast's tax reform in win for embattled economy
Chile's Congress approved almost the entirety of President José Antonio Kast's sweeping tax and economic reform package on July 21, marking a significant legislative win as he battles a sluggish economy just over three months into office.
Kast’s National Reconstruction Plan for Chile: Chicago Boys 2.0
The Kast government's National Reconstruction and Economic and Social Development plan constitutes the most ambitious restructuring of the Chilean state's relationship to capital since the Pinochet dictatorship.
Chilean government’s sweeping reform bill advances in Congress
By Fabian Cambero SANTIAGO, July 21 (Reuters) - Chile's lower house approved most of a major reform bill on Tuesday, pushing forward President Jose Antonio Kast's plan to boost investment in the world's top copper producer. The Chamber of Deputies end...
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- 47% of the sources lean Left
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