Argentine President Javier Milei on Monday issued Decree 534/2025 that strikes down three social-spending bills passed by the opposition-led Senate on 10 July: a 7.2% rise in pensions and a permanent bonus lifting monthly payments to ARS 110,000, the reopening of a two-year pension moratorium, and a measure declaring a national emergency in disability. The presidency said the legislation would add more than ARS 7 trillion to this year’s budget and about ARS 17 trillion in 2026, equivalent to 0.9% and 1.68% of gross domestic product, respectively. In a statement repeating Milei’s slogan “no hay plata,” the government argued that the provisions endangered the fiscal surplus that underpins its anti-inflation programme. Congress can overturn the vetoes with a two-thirds majority in both chambers, and opposition lawmakers signalled they will attempt to do so, setting up a confrontation with the executive. The clash comes less than three months before Argentina’s mid-term elections, a vote that will gauge public support for Milei’s austerity drive.