Senate to vote today on fuel price cuts

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VALPARAÍSO. -   The Senate is scheduled to vote this afternoon on two proposals that would imply a cutback on fuel prices.

According the Upper House’s website, he first of the proposals calls for a temporary reduction on the gasoline excise tax, while the second aims to establish a mechanism to reimburse electric companies for the excise tax on diesel fuel.

Both initiatives are categorized as urgent, permitting them only 10 days to be analyzed by each legislative branch.

Nevertheless, the first of the proposals will go to the Senate without the article asking for the elimination of the tax exemption on VAT payments made for the construction of homes starting at 2000 UF.  

The Senate indicated that the situation has provoked a series of dialogue between the government and senators in an attempt to reach an agreement that will allow the threshold of the tax benefit to be expanded, so as not to raise the cost of middle-class homes.