"There Is No Money": Argentina’s Milei Vetoes Pension and Disability Bills

Argentine President Javier Milei has vetoed two major bills passed by Congress: one that would have increased pensions and another expanding protections for people with disabilities. The libertarian leader argued the measures would jeopardize Argentina’s fragile fiscal recovery, emphasizing that there is no funding to support such increases.

See also: EU Suspends U.S. Tariff Countermeasures for 6 Months

Though Congress approved both bills in July, Milei had already signaled his intention to block them, citing concerns over financial sustainability. On Monday, the presidential office published an executive order officially rejecting the legislation. In a strongly worded statement, the government criticized lawmakers for passing the bills without proposing viable funding sources, calling the move “irresponsible.”

Milei reaffirmed his government’s commitment to financial discipline, declaring, “There is no money,” and defending his austerity approach. The vetoes come just three months ahead of Argentina’s crucial midterm elections, which will test public support for Milei’s reforms amid ongoing social and economic challenges.

See also: Lithuania President Gitanas Nausėda Appoints Finance Minister as Acting PM After Paluckas Resigns

 

The vetoed legislation reflects a deepening political divide in Argentina, where President Milei does not hold a majority in Congress. Lawmakers across party lines had approved the pension hike and disability protections, framing them as necessary relief measures during a difficult economic period. However, Milei and his administration maintain that approving such benefits without securing funding would undo recent progress in stabilizing inflation and reducing the deficit.

Milei’s government has achieved some success in curbing Argentina’s triple-digit inflation, but at a high social cost. His strict austerity measures have sparked widespread debate, with critics accusing him of neglecting vulnerable populations. The vetoed bills could still be revived if Congress manages to overturn the decision, though that would require a significant coalition of lawmakers.

With the midterm elections approaching in less than three months, the president’s decision sets the stage for a heated political battle over fiscal priorities and social welfare in Argentina.