BREAKING NEWS WATCH: Gov. Gavin Newsom providing update on state's response to wildfires, COVID-19 Full Story
BREAKING NEWS North Complex: More evacuation orders reduced to warnings in Plumas County Full Story

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 2:03 PM
Updated: Dec 19, 2017 2:03 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.

California Coronavirus Cases

Data is updated nightly.

Confirmed Cases: 786168

Reported Deaths: 15016
CountyConfirmedDeaths
Los Angeles2607976353
Riverside566811153
San Bernardino52471908
Orange520631128
San Diego44577760
Kern31379354
Fresno27668355
Sacramento21297375
Alameda20558374
Santa Clara20410296
San Joaquin19793414
Stanislaus16319335
Contra Costa15837199
Tulare15599256
Ventura12328143
Imperial11558314
San Francisco1074599
San Mateo9522143
Monterey946767
Santa Barbara8862110
Merced8750134
Kings728377
Sonoma7060114
Marin6557112
Solano608555
Madera429658
Placer346641
San Luis Obispo336927
Butte274835
Yolo274754
Santa Cruz22188
Sutter164210
Napa161413
San Benito130111
Yuba11187
El Dorado10684
Mendocino84918
Lassen7310
Shasta68714
Glenn5503
Colusa5096
Nevada5066
Tehama4984
Humboldt4826
Lake46510
Calaveras31114
Amador28616
Tuolumne2214
Inyo18714
Mono1652
Siskiyou1610
Del Norte1361
Mariposa752
Plumas490
Modoc240
Trinity150
Sierra60
Alpine20
Unassigned00
Chico
Clear
79° wxIcon
Hi: 88° Lo: 59°
Feels Like: 79°
Oroville
Clear
85° wxIcon
Hi: 89° Lo: 61°
Feels Like: 85°
Paradise
Clear
79° wxIcon
Hi: 84° Lo: 60°
Feels Like: 79°
Chester
Clear
75° wxIcon
Hi: 76° Lo: 46°
Feels Like: 75°
Red Bluff
Clear
82° wxIcon
Hi: 90° Lo: 59°
Feels Like: 82°
Willows
Clear
79° wxIcon
Hi: 92° Lo: 56°
Feels Like: 79°
Warm & breezy conditions are ahead for your final day of the summer season. Air quality is a bit more impacted this morning, but we could see some improvement in that today. We'll also be cooler and have a chance for showers returning to the coast later this week.
KHSL Severe
KHSL Radar
KHSL Temperatures

Community Events