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Argentine Congress Moves Toward Implementing Wealth Tax to Fund COVID-19 Aid

RIO DE JANEIRO, BRAZIL - The lower house of Argentina’s Congress on Wednesday approved a bill seeking to raise 300 billion pesos (US$3.75 billion) through a tax on large fortunes to finance programs aimed at helping families hit by the COVID-19 pandemic.

The Senate was expected to consider the government-backed legislation before the end of the month. The lower house vote was 133 to 115 with two abstentions.

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