Luis Caputo said that the check tax and withholdings "are in the spotlight" for after the elections.

Economy Minister Luis Caputo announced this Thursday that the check tax —known as the Tax on Debits and Credits—"is one of the two taxes most under scrutiny, along with withholding taxes ," to be eliminated after the elections.

The minister has stated on several occasions that the government plans to push through tax reform after the October elections. In fact, he said he is considering creating a committee of "24 reformers" to lower taxes in the provinces.

The check tax and withholding taxes would be included in this reform, he specified. Back in April, when Argentina agreed to the new program with the IMF , the Fund's technical team's report stated that "distorting taxes on exports and financial transactions should be gradually reduced , replacing them with simpler direct taxes."

Caputo spoke during his third consecutive appearance on the program Las Tres Anclas, broadcast on the pro-government streaming channel Carajo . When asked about rumors that the dollar's floating bands could be recalibrated after the October elections, he stated: "There won't be any regime change, or anything..."

In this regard, the minister was candid and said that "there comes a point where you get fed up with hearing one lie after another ."

"The dollar floats. It can go up or down. The same thing happened a few months ago, when they said inflation was going to 5% per month. Nothing like that happened. Businesses are getting used to it." pic.twitter.com/1kS8cQdWoX

— Carajo (@CarajoStream) August 7, 2025

For his part, Central Bank President Santiago Bausili said that "one of the virtues of the design of the expanded band scheme is that it is designed so that the transition to the next regime is natural, without necessarily requiring a change . And that was designed to eliminate anxiety."

In addition to Caputo and Bausili, the Secretary of SMEs, Entrepreneurship, and the Knowledge Economy, Marcos Ayerra , also participated in the program. He submitted his resignation this week due to "personal issues and new professional challenges" and will leave his post on August 14.

Caputo also addressed the government's crushing defeat in the Chamber of Deputies last Wednesday. "I hope what happened yesterday in Congress opens people's eyes to understand that an immediate renewal of the old politics is necessary," Caputo had tweeted earlier.

"Yesterday it became clear that in the next elections there are only two options: return to the Kirchnerist past with its proven consequences: deficit, uncontrolled inflation, restrictions, corruption, pickets, insecurity, etc.; [or] continue changing the country as we have been doing for the past 18 months," Caputo continued in an electoral tone after meeting this week with one of the pillars of the "cultural battle," Axel Kaiser.

The day after the House session, the S&P Merval fell 2.73%, while local stocks and ADRs fell as much as 7%.

However, the dollar maintained its downward trend for five consecutive sessions , having reached $1.375 last week, near the band's ceiling. Analysts see two main reasons for the dollar's retreat: the return of the carry trade and increased liquidations by the agricultural sector.

On Wednesday, the House of Representatives approved the university funding and pediatric emergency bills for Garrahan, which are estimated to have an annualized fiscal cost of $1,059,662 million and $133,433 million, respectively.

The decrees for the closure of the National Highway Administration, the special regime for the merchant marine, and changes to the National Institute of Statistics and Census (INTI) and the National Institute of Statistics and Census (INTA), among others, were also repealed.

Chief of Staff Guillermo Francos admitted: "We lost everything, we lost everything," but he announced that the government will veto "everything that can be vetoed."