A date for budget cuts has not yet been set, the House concluded the vote on the bill on the management of IBS, and the discussion of Arthur Lira’s succession continues

BRAZIL POLITICS - Report 31 Oct 2024 by Murillo de Aragão and Cristiano Noronha

There is speculation that the government’s announcement of budget cuts could range between R$40 billion and R$60 billion. However, according to the Minister of Finance, Fernando Haddad, no date has been set for announcing these measures. Yesterday, the Lower House concluded the vote on the bill that regulates the management and oversight of the Goods and Services Tax (IBS), which will replace the ICMS (state tax) and ISS (municipal tax). In the House, discussions on Arthur Lira's (PP-AL) succession are also underway. The MDB caucus announced its support for Hugo Motta (Republicanos-PB) for the House presidency.

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