Argentina's House approved the sliding-scale tax on grain exports earlier this month, and it is now in the Senate awaiting a vote. The tax, which was implemented earlier this year by Argentine President Cristina Fernandez, caused a series of strikes by Argentina farmers this spring and summer, which tied up traffic and shipping. Negotiations between farm leaders and the government have broken down several times, and after many protests and requests Fernandez decided to send the tax to Congress for their approval.
The Senate, which is scheduled to vote on the tax on Wednesday, is sharply divided on the issue. Both farm leaders and government supporters held rallies in Buenos Aires on Tuesday in an attempt to tip the vote in their favor. According to reports 35 senators have pledged to vote for the tax, 33 to vote against and four have not made known how they plan to vote on the issue. So at this point it could go either way, although most analysts believe the Senate will approve the tax.
Powered by iNet Solutions Group ©2011 All Rights Reserved.