Argentina’s senate passes bill to reduce taxes on high-income earners

(Reuters) – Argentina’s senate on Thursday passed a government-backed bill to cut taxes on high-income earners, a move that would erase about one trillion pesos ($2.8 billion) from state coffers in 2023, according to official estimates.

The bill, which will now be enshrined in law, passed with 38 votes in favor and 27 against.

(Reporting by Carolina Pulice, Writing by Isabel Woodford; Editing by Valentine Hilaire)