Argentina passes controversial economic reform

A major pension reform became law in Argentina early Tuesday morning after violent protests rocked the nation's capit...

Posted: Dec 19, 2017 5:03 PM
Updated: Dec 19, 2017 5:03 PM

A major pension reform became law in Argentina early Tuesday morning after violent protests rocked the nation's capital, Buenos Aires, on Monday.

Rioters threw rocks and Molotov cocktails while police fought back with rubber bullets and tear gas Monday afternoon. More than 160 were injured, including 88 police officers and 74 protesters, according to state-run news agency Telam.

Lawmakers had spent more than 12 hours debating the economic reform that will reduce pension payments to individuals. The new law revises the size of the payment four times a year instead of twice a year, the way it did under the old system. The new formula also bases payments mostly on inflation, which is falling. The previous law calculated payments based on wages and social security contributions.

The 127-118 vote narrowly passed shortly after 5 a.m. ET on Tuesday. Lawmakers had been debating in Congress all night.

It's a big victory for President Mauricio Macri, whose pro-business administration pushed the reform through Congress after a resounding mid-term election in October for Macri's party called Cambiemos or "Let's Change."

Critics argue it will hurt retirees, who paid into the system for much of their working lives, by reducing their income.

Macri's administration says the reform will save the government roughly 60 billion pesos ($3.4 billion) next year. The aim of the reform ultimately is to reduce Argentina's large fiscal deficit.

Indiana Coronavirus Cases

Data is updated nightly.

Confirmed Cases: 31715

Reported Deaths: 1984
CountyConfirmedDeaths
Marion9189533
Lake3299167
Cass15826
Allen127766
St. Joseph117034
Hendricks112367
Hamilton109992
Johnson1082104
Elkhart100827
Madison58258
Porter48721
Bartholomew48033
Clark45838
LaPorte40821
Tippecanoe3733
Jackson3611
Howard35618
Delaware35434
Hancock31927
Shelby31421
Floyd31338
Boone28235
Morgan26124
Vanderburgh2482
Montgomery22717
White2268
Decatur22431
Clinton2151
Noble18520
Grant18520
Harrison18521
Dubois1822
Greene16723
Warrick16426
Dearborn16221
Monroe16010
Henry1597
Vigo1477
Lawrence14322
Miami1391
Putnam1337
Jennings1274
Orange12422
Scott1183
Ripley1126
Franklin1068
Carroll922
Kosciusko861
Daviess8216
Steuben792
Newton7410
Wabash722
Wayne695
Fayette654
Marshall641
LaGrange602
Jasper561
Washington521
Fulton471
Rush452
Jay430
Jefferson411
Randolph403
Pulaski390
Clay391
Whitley392
Brown331
Sullivan321
Starke313
Owen311
DeKalb291
Perry270
Huntington262
Benton250
Knox240
Crawford230
Wells230
Tipton221
Blackford201
Switzerland190
Fountain182
Parke170
Posey170
Spencer161
Gibson142
Ohio130
Adams121
Warren121
Vermillion90
Martin90
Union80
Pike60
Unassigned0152
West Lafayette
Broken Clouds
85° wxIcon
Hi: 87° Lo: 69°
Feels Like: 88°
Kokomo
Few Clouds
86° wxIcon
Hi: 87° Lo: 67°
Feels Like: 89°
Rensselaer
Scattered Clouds
86° wxIcon
Hi: 85° Lo: 66°
Feels Like: 88°
Fowler
Scattered Clouds
86° wxIcon
Hi: 84° Lo: 67°
Feels Like: 88°
Williamsport
Scattered Clouds
83° wxIcon
Hi: 86° Lo: 68°
Feels Like: 87°
Crawfordsville
Broken Clouds
83° wxIcon
Hi: 85° Lo: 68°
Feels Like: 84°
Frankfort
Scattered Clouds
85° wxIcon
Hi: 86° Lo: 67°
Feels Like: 88°
Delphi
Broken Clouds
83° wxIcon
Hi: 86° Lo: 68°
Feels Like: 85°
Monticello
Broken Clouds
83° wxIcon
Hi: 89° Lo: 67°
Feels Like: 85°
Logansport
Broken Clouds
86° wxIcon
Hi: 86° Lo: 66°
Feels Like: 87°
Hot and Humid Weather Continues with Some Late-Day Storms Possible.
WLFI Radar
WLFI Temps
WLFI Planner

COVID-19 Important links and resources

As the spread of COVID-19, or as it's more commonly known as the coronavirus continues, this page will serve as your one-stop for the resources you need to stay informed and to keep you and your family safe. CLICK HERE

Closings related to the prevention of the COVID-19 can be found on our Closings page.

Community Events