Sunday, July 06, 2008

Agriculture: Argentina's lower house approves grain tax

Argentina's lower house of Congress has approved a controversial new grain export taxes that farmers have been protesting for months.

House members voted Saturday 128 to 122 in favour of the legislation, after many hours of debate. The bill still requires Senate approval. The head of the Argentine Agrarian Federation, Eduardo Buzzi, vowed to resist the measure in the Senate and in the courts, if necessary.

President Cristina Fernandez de Kirchner, whose popularity has dwindled as a result of the controversy, had asked Congress to debate the measure, in an effort to defuse tension exemplified by the outraged farmers.
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