Santiago, Chile, July 21, 2026 (AFP)
Chile's Congress on Tuesday approved most provisions of a business-friendly economic reform package championed by hard-right President Jose Antonio Kast.
The opposition had fiercely contested the measures, which it argues disproportionately favor the wealthy.
The changes include a series of tax cuts such as a gradual reduction in levies on companies and a 20-year freeze on the rate for investments exceeding $350 million.
The congressional vote followed the Senate's seal of approval last week, and the law will be enacted after a parliamentary debate about one outstanding detail.
Kast took office in March as Chile's most right-wing leader since the end of General Augusto Pinochet's 1973-1990 dictatorship.
He campaigned on a promise to slash government spending, balance the books and revive the economy.
Leftist lawmakers, who believe the measures approved Tuesday exclusively benefit the rich, have denounced cuts to social spending that tax cuts will bring about.
The opposition also criticizes a new government reimbursement granted to companies that lose their environmental permits.
Rodrigo Arellano, deputy head of the University of Development's faculty of government, called the reforms a "change of course."
"Since 2014, the economic and tax debate in Chile has always been tilted toward higher tax rates, a greater presence of the state, and an emphasis on redistribution," he told AFP.

Sumber : AFP