The "Bases Law", also known as the "omnibus" due to its volume, proposes tax benefits for multi-million dollar investments, the privatization of public companies, incentives to capital repatriation, and special powers for the president. Meanwhile the tax reform modifies tariffs on high salaries and personal property.

Two bulky bills that ultraliberal president Javier Milei intends to use to attract investment would receive final approval by Argentina's Chamber of Deputies on Thursday, thus giving final approval to a sweetened version of the original mega-reform.

After years of a crisis that has brought inflation above 200% annually and has triggered poverty to almost 50% of the population, Milei --who has treated legislators who opposed the projects as "coup plotters"-- seeks to sign the bill as a political victory that shows markets his governability capacity. 

For this reason, the histrionic president agreed to give in on many articles of his mega-reform to achieve consensus with a fragmented opposition, as the ruling party represents a minority in both chambers of parliament.

At the end of April, the Lower House already approved the "Bases Law" and a tax reform bills, which were ratified with some modifications in a tight vote at the Senate two weeks ago, with the strong opposition of the center-left Peronism.

Now, the deputies must vote on the changes undertaken by the Senate, which they can accept or reject without their decision affecting the bulk of the articles already approved by both chambers.

"There is no chance that the law will not pass. It will come out yes or yes, the discussion is which of the two versions," the deputy of the Radical Civic Union (UCR) Martín Tetaz told CNN Radio Argentina.

The "Bases Law", also known as the "omnibus" due to its volume, proposes tax benefits for multi-million dollar investments, the privatization of public companies, incentives to repatriate capitals, and special powers for the president. Meanwhile, the tax reform modifies tariffs on high salaries and personal property.

It is expected that the deputies will keep state-owned companies Aerolíneas Argentinas, Correo Argentino and the public media system exempt from the privatization process, which includes transportation, energy and service firms.

At the same time, they would approve the changes in taxes on salaries and personal property that were discarded by the Upper House.

However, center-left opposition legislators announced that they could turn to the courts to stop the application of laws that they consider border on "unconstitutionality."

Milei had originally sent the bill to congress shortly after taking power in December, but it was rejected. After arduous negotiations with center-right allies and the centrist opposition, which led to the eliminate more than 600 original articles of the "Bases Law" to the current 238, the president achieved broader consensus.