A Setback for the Government
On Tuesday, September 2, 2026, the Senate's committee meeting (Budget and Finance, General Legislation, National Economy, and Investment) was expected to issue a ruling on the Super RIGI project, an expansion of the Incentive Regime for Large Investments. However, the session ended in a recess until next week because the ruling party failed to gather the 26 signatures needed to move forward.
The seven absences during the vote complicated the scenario, but three names were key: Maximiliano Abad (UCR), Carlos "Camau" Espínola (Provincias Unidas), and Andrea Cristina (PRO). Without their support, the ruling was left incomplete, and the government must now intensify negotiations.
What the Dialoguing Opposition Demands
Senators from PRO, UCR, and Provincias Unidas raised last-minute changes to protect national industry. The central demands are:
- That 20% of tradable goods be purchased from national companies, with a preference of up to 15% over imported products.
- Raise to 40% the percentage of tradable goods acquired from local developers.
The ruling party had already accepted previous modifications, such as expanding the 20% quota to tradable goods and services and requiring energy self-sufficiency for high-consumption projects. But the new requests generated resistance within the Executive.
The Government's Stance
The ruling party's leader in the Senate, Patricia Bullrich, admitted she will need to negotiate with Economy Minister Toto Caputo to accept the changes. In a firm tone, she stated: "If the Super RIGI has so many problems, we'll have to stick with the RIGI", referring to the original regime sanctioned in 2024.
Meanwhile, the President of the Chamber of Deputies, Martín Menem, resists re-discussing the text, deepening the internal rift with Karina Milei. The Unión Industrial Argentina (UIA) urged legislators to defend the productive fabric, with direct criticism from its president Martín Rappallini and his deputy, Guillermo Moretti.
What is the Super RIGI?
The project aims to expand the benefits of the RIGI (sanctioned in 2024) for investments exceeding US$1 billion, focusing on sectors like artificial intelligence, data centers, and semiconductors (which are practically nonexistent in Argentina).
Among the planned benefits are:
- Fiscal, exchange rate, and legal stability for 30 years.
- Elimination of export duties.
- Free availability of foreign currency (100% from the third year).
- Reduction of corporate income tax to 15%.
- Accelerated depreciation (60% in the first year, 20% in the following two).
- Dividend tax rate of 7% (3.5% after 4 years).
- Exemption from import and export duties.
- International arbitration (ICSID) for dispute resolution.
Political Context and Next Steps
The project already has partial approval from the Chamber of Deputies. If the Senate introduces changes, it must return to the lower house. Peronism, for its part, was working to introduce more modifications and "unravel" the original text.
Senator Fernando Salino denounced that the meeting was "riddled with nullities" due to the time change, notified by email at 9:30 AM the same day. Additionally, the Center for Argentine Political Economy (CEPA) reported that industry has accumulated a year-on-year decline of 1.9% in the first six months of 2026, 8.1% lower than in the previous model.
The government seeks to block the session on September 9 in the Chamber of Deputies, where the opposition wants to address debt relief and the Disability Emergency. If no agreement is reached, the possibility of holding a session on Thursday, September 10 fades.
Bullrich is also pushing a biofuels project (expanding the biodiesel and bioethanol blend) and seeks to "honor agreements with allies" (RIIR, carbon market). Next week will be key to defining the future of the Super RIGI.