With 107 votes in favor, the National Assembly accepted in the second debate the urgent bill on economic efficiency and employment, which is the first initiative proposal of the President of the Republic, Daniel Nobo Azín.

The proposal underwent some changes, but the central goal of the Government’s proposal was retained, which is to encourage employment, especially for young people, increase tax collection and investment incentives, according to the report prepared by the Legislative Commission for Economic Development.

The final document also includes tax credits for the private sector donating equipment and tools to the National Police for security issues. The income tax deduction will be 150%.

This bill will be submitted to the executive branch, which will have 30 days to approve or veto the text in whole or in part. Although there is already talk in the Assembly that the second urgent bill on the economy will be submitted by the end of this year.

107 votes came from the Civil Revolution (RC), the Social Christian Party (PSC), the National Democratic Action (ADN), the Good People group and some independents. While the Construye and Pachakutik benches spoke against and were restrained.

The President of the Assembly Henry Kronfle pointed out that the vote for the urgent project is historic and an example of governance because it shows that there is an effort and that we work together above ideologies, colors and political parties. All this gives peace to Ecuadorians because it shows the fluid work between the executive and legislative authorities, he pointed out.

He said that they voted for the urgent project because they are aware that the new law does not bring higher taxes, but encourages youth employment, tourism and sports.

Kronfle indicated that there are some things that are still in the works, but that the upcoming law will be worked on, such as deductions for those people who are current with their Social Security payments and who have employees registered as individuals, as well as late payment interest. mortgages and unsecured loans. All that is left will be included in the new emergency energy project.

Valentina Centeno, President of the Commission for Economic Development, He reiterated that this approved law is positive because it will bring employment and investments, and it also sets a precedent because “we are giving governance to the President of the Republic, Daniel Noboa.” That for the first time in many years this law does not mean an economic package for Ecuadorians, on the contrary, it eases the tax burden, puts money in the pockets of Ecuadorians and opens the door to the private sector for investment.

Commenting on the content of the document that was adopted, he said that the text that was approved at the economic development table was retained even during the voting at the plenary session and that this is proof that the National Assembly can agree and pass laws. those who need it the most.

The project has three fundamental pillars: the first is the promotion of job creation through tax incentives; second, openness so that the state through different levels, including decentralized autonomous governments, could sign public-private alliances to improve infrastructure and, therefore, public services to citizens; and, the third pillar is related to opening the door to the private sector with social responsibility for job creation, investment and progress through free zones, which will also contribute to and benefit from dollarization, Centeno explained.

He pointed out that some novelties are being proposed in tax matters, such as the self-deduction figure for large taxpayers, who, depending on their contribution capabilities, will be able to ensure a greater inflow into the fiscal fund without increasing taxes and without affecting taxes. the pockets of those who need it the most..

When it comes to employment, the government legislator added, youth employment is encouraged with additional incentives on wages and salaries for youth employment with incentives ranging from 50% to 75% of refusal, in case young graduates of public universities or colleges are employed.

The ADN legislator clarified that this project was inclusive because observations, comments and suggestions were collected, such as the abolition of strict rules for the occasional sale of real estate; the reprofiling of the external debt was highlighted so that there would be no doubt that there is an attempt to touch the reserve funds; and a provision is included that prohibits family members of the President of the Republic and members of the Assembly from having the right to have the Tax Administration forgive fines and interest.

He said that the law that was approved on December 19 this year must be published in the Official Register so that the Executive can submit another economic project that will legally regulate energy with the aim of leaving behind blackouts, blackouts and high kilowatt prices.

Centeno announced that from this Wednesday, December 20, he will start working on another urgent project, because the president is satisfied with what was approved in Parliament, and a new economic proposal is already being prepared.