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The Finance Ministry may revise the IOF tax increase due to backlash, the STF begins adjudication of three important cases, and next week will be the XI BRICS Parliamentary Forum
BRAZIL POLITICS · Report · 30 May 2025

After the negative backlash to the decree that raised the IOF on credit and foreign exchange operations, the Ministry of Finance may revise certain aspects of the measure. The goal is to address the R$ 800 billion in tax waivers granted by the government. Today, the Supreme Federal Court (STF) be...

Haddad met with congressional leaders to discuss the IOF tax increase, the Senate approved the bill that grants a salary increase to federal servants, and the Senate also approved advertising restrictions on “bets”
BRAZIL POLITICS · Report · 29 May 2025

Finance Minister Fernando Haddad met yesterday with the President of the Lower House, Hugo Motta, the President of the Senate, Davi Alcolumbre, and party leaders. Despite pressure from Congress, according to Haddad, there is no alternative to the IOF decree at this time. On Wednesday, May 28, the...

Congressional pressure to overturn Lula’s IOF decree continues to mount, the STF will hear a case on the CIDE tax on money transfers abroad, and the Senate may vote on a bill that increases federal salaries
BRAZIL POLITICS · Report · 28 May 2025

In Congress, pressure continues to mount to overturn President Lula’s decree raising the IOF tax. The agribusiness caucus is working in coordination with other parliamentary fronts to approve a legislative decree nullifying the tax hike. Pressure on public finances is also coming from the Judicia...

The cost of President Lula's popularity and other weekly topics
BRAZIL POLITICS · Report · 27 May 2025

The Environmental Licensing bill reaches the Lower House. The House may also vote on proposals related to avian flu. The government will issue a decree detailing budget cuts. The Supreme Federal Court (STF) begins, via virtual plenary, deliberations on a case concerning non-affiliated (independen...

The IOF decree continues to cause friction within the government, the Lower House should discuss the Propag program for Minas Gerais, and Bolsonaro’s allies continue to clash with the Supreme Federal Court (STF)
BRAZIL POLITICS · Report · 27 May 2025

The government’s decision to raise the IOF tax continues to generate friction and reactions from all sides. Hugo Motta indicated that he will bring to discussion, in the Lower House leadership meeting, a legislative decree proposal to suspend President Lula’s decree that increases the IOF. This a...

The economic team announced a budget freeze, Senate President Alcolumbre announced he will hold a session of Congress on June 17 to review presidential vetoes, and the House should receive the environmental licensing bill next week
BRAZIL POLITICS · Report · 23 May 2025

The economic team announced yesterday a freeze of R$ 31.4 billion in the 2025 budget. An amount of R$ 10.6 billion was blocked, and R$ 20.6 billion was subject to contingency. The figure was much higher than the market had anticipated. Yesterday, Senate President and head of Congress, Davi Alcolu...

Budget cuts and spending freezes should be announced, the House approved the bill that restructures federal government career paths, and a Senate committee approved a proposal that puts an end to re-elections
BRAZIL POLITICS · Report · 22 May 2025

Between today and tomorrow, budget cuts and spending freezes are expected to be announced. Yesterday, President Lula met with the Budget Execution Board to discuss the size of the cuts. Yesterday, the Lower House approved Bill 1466/25, which restructures career paths and adjusts the salaries of f...

Senate committees approved the General Environmental Licensing Bill, the Senate CCJ held a public hearing to discuss the IBS Management Committee, and the Lower House installed a special committee on AI
BRAZIL POLITICS · Report · 21 May 2025

The Senate’s Environment (CMA) and Agriculture (CRA) Committees approved the General Environmental Licensing Bill (Bill No. 2159/2021) yesterday. The text may be voted on today by the Senate floor. Yesterday, the Senate’s Constitution, Justice, and Citizenship Committee (CCJ) held a public hearin...

Ibama approved Petrobras’s environmental license for oil exploration in the Amazon, the PDT will meet to mark the return of Lupi to the national leadership of the party, and the House will review the tax exemption bill
BRAZIL POLITICS · Report · 20 May 2025

The Brazilian Institute of Environment and Renewable Natural Resources (Ibama) yesterday approved the framework of the Wildlife Oiled Response and Protection Plan (PPAF), presented by Petrobras. This represents an important step in the environmental licensing process for oil exploration in the Fo...

The government seeks to contain damage in the INSS CPI and other weekly topics
BRAZIL POLITICS · Report · 19 May 2025

The government is expected to announce spending cuts in the 2025 budget. The Finance Ministry is set to present President Lula with targeted measures to help meet the 2025 primary fiscal target. On Wednesday, May 21, Finance Minister Fernando Haddad will participate in a public hearing in the Low...

The government prepares 2025 budget cuts and fiscal measures, Congress advances the INSS CPI and tax reform debates, and Lula seeks political recovery with energy reform and a change in the cabinet
BRAZIL POLITICS · Report · 19 May 2025

The government is expected to announce budget cuts for 2025. On Thursday, May 22, the government will release the Primary Revenue and Expenditure Assessment Report. This is the first report of the year due to the delay in Congress’s approval of the 2025 Federal Budget. Throughout the week, pressu...

Haddad rules out a broad fiscal package and denies a Bolsa Família hike, the PT signals support for the INSS CPI with a focus on the past administration, and Congress prepares for key committee meetings on tax reform and AI
BRAZIL POLITICS · Report · 16 May 2025

Yesterday, May 15, Finance Minister Fernando Haddad addressed reports of a possible fiscal adjustment package. In conversations with journalists, he stated that the ministry is actually working on targeted measures to help meet the 2025 fiscal target. The PT leader in the Senate, Senator Rogério ...

Lula questions China on TikTok and digital harms, Senate hears minister on INSS fraud and unauthorized deductions, and nearly half a million retirees file complaints over benefit irregularities
BRAZIL POLITICS · Report · 15 May 2025

Yesterday, May 14, during a conversation with journalists, President Lula said that he questioned Chinese President Xi Jinping about TikTok. According to him, First Lady Janja da Silva spoke during the dinner to explain what is happening in Brazil, “especially against women and children,” in rela...

Lula defends alternative to dollar during China visit, Congress prepares for income tax reform debate amid fiscal constraints, and US-China trade truce begins impacting global markets
BRAZIL POLITICS · Report · 14 May 2025

President Lula begins his return trip to Brazil today, after making official visits to Russia and China. In the final leg of the trip, Lula advocated for countries to find “a currency or a basket of currencies that allows business to be conducted without depending on a single currency,” referring...

Lula secures Chinese investments during the CELAC forum, Brazil negotiates a TikTok data center project tied to energy infrastructure, and the opposition files a request for a Joint CPI on the INSS fraud
BRAZIL POLITICS · Report · 13 May 2025

President Lula continues his official agenda in China. Yesterday, May 12, Apex Brasil announced that R$ 27 billion in investments in Brazil were secured from Chinese companies. The government highlighted investment commitments from automaker GWM and the Chinese delivery platform Meituan. The Mini...

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