“If I Veto it – I’m the Bad Guy in the Story with the Elderly.” Panama President Mulino on Bill 226.
The dilemma: To veto or to sanction? President Mulino reiterated that he will meet with business leaders and retirees next week and called on lawmakers to “legislate responsibly.”
The President of the Republic, José Raúl Mulino, expressed his concern about the content of bill 226, which was approved in the third debate in the National Assembly, and awaits its decision on whether to veto or sanction it, amidst warnings issued by business associations. The aforementioned project modifies Law 6 of 1987, expanding the benefits and discounts available to retirees at businesses and services throughout the country. Regarding this, the president acknowledged that the proposal “is complicated to implement.” Mulino also said that before issuing his opinion, he will convene a meeting with the various sectors to hear opinions on the matter and try to find a solution.
The Executive Branch has 30 days to approve or veto the proposal, Mulino noted, adding that he was never consulted about the viability of the resources. “If I veto it, I’ll be the bad guy in the eyes of the elderly, and that’s not the case because nobody asked me, and I’m sure our financial governing bodies didn’t either. So that’s what I’m going to appeal to: that we find a way to make it work. I’m telling you this sincerely, but we have to find a way to make this law economically sustainable and prevent it from creating problems in a few years,” he added. Business associations have raised their voices in alarm and requested the rejection of the proposal, arguing that expanding the already established discount margin for retirees puts investments, jobs, and even the stability of micro, small, and medium-sized enterprises at risk, as they would be forced to pass the costs on to consumers.
“I want to see, in all honesty, what can be done with this law and call upon the honorable assembly to legislate responsibly within their legislative capacity. One cannot simply pass laws willy-nilly without knowing where the resources will come from. Planning income and expenses is the exclusive prerogative, mandated by the constitution, of the executive branch through the Ministry of Economy and Finance,” he reproached the representatives.
