But President Javier Milei has said he will veto the measure, arguing it threatens fiscal stability.
Retiree organizations, backed by labor unions, have held weekly protests outside Congress. These demonstrations have been met with police crackdowns under the government's anti-protest protocol.
According to the National Social Security Administration, as of December, roughly 5.4 million retirees and pensioners receive less than $450 per month.
Even with bonuses and additional support, the minimum pension is around $600 -- still below the estimated monthly cost of essential groceries for a family, which stands at $510.
Healthcare workers also have staged demonstrations against wage freezes and stagnant hospital budgets.
Garrahan Hospital, a national pediatric center that handles more than 600,000 consultations and 10,000 surgeries a year, led the recent protests.
The medical staff, technicians and administrative workers recently ended a weekslong strike after reporting a loss of up to 50% in purchasing power since December 2023. Resident doctors, who often work 60 to 70 hours a week, have been especially affected, with earnings now below the poverty line.
Public employees also have been impacted. Since taking office, the Milei administration has laid off about 43,000 government workers as part of a state downsizing plan.
The scientific community has also raised alarms over steep budget cuts. The National Scientific and Technical Research Council, Argentina's top research institution, saw its budget fall by 20%. The National Atomic Energy Commission and the National Institute of Agricultural Technology reported cuts of 29% and 23.6%, respectively.
Public investment in education dropped by 43.8% in 2024, and public universities lost 25% of their inflation-adjusted budgets, triggering mass protests.
The government says many of the demands for more money are politically motivated, while official data shows concrete signs of economic progress.
Inflation in May hit its lowest level in five years, and private forecasts suggest it could fall below 2% monthly. That marks a sharp contrast with 2023, when annual inflation reached 211.4% -- the highest in the world that year.
