The Senate Finance Commission approved the Reconstruction bill yesterday by three votes to two. The initiative advanced with only officialist support.
The vote took place after 11 sessions and 35 hours of debate in the commission. Three officialist senators backed the project: María José Gática of RN, Javier Macaya of UDI and independent Rodolfo Carter. Socialist Party senators Daniella Cicardini and Paulina Vodanovic voted against.
Finance Minister Jorge Quiroz said the government will go to the floor with willingness to receive adjustment proposals. “Vamos a ir a la Sala con una amplia disposición a recibir propuestas concretas de ajustes y perfeccionamientos”, he stated.
The bill had already been approved by the Chamber of Deputies. It proposes cutting the corporate tax rate from 27 to 23 percent and granting tax invariability for investments over 50 million dollars. Its discussion on the Senate floor is expected next week.
