In line with IMF recommendations, Argentine politicians voted last week to reduce the country’s corporate tax rate from 35 to 25 percent and increase the retirement age to 70 for both men and women, up from 60 for women and 65 for men. Last week’s legislation will also significantly reduce government investment in national pension and retirement plans as well as welfare spending for the poor. The votes prompted thousands of marchers to protests against the reforms in Buenos Aires.