Haddad should meet with Lula to discuss alternative measures to the IOF, Motta defended setting a cap on healthcare deductions in income tax filings, and Social Security Minister Queiroz will participate in a public hearing

BRAZIL POLITICS - Report 10 Jun 2025 by Murillo de Aragão and Cristiano Noronha

Today, Finance Minister Fernando Haddad is expected to meet with President Lula to discuss alternative measures to the IOF tax. On Sunday, Haddad said there will be an immediate recalibration of the IOF, including an 80% reduction in specific operations known as “risco sacado” and a reduction of the IOF on life insurance with survival benefits (VGBL). Yesterday, Hugo Motta defended setting a cap on healthcare deductions in income tax filings. According to him, the topic could be addressed in the bill that expands the tax exemption threshold for salaries up to R$ 5,000. Today, Social Security Minister Wolney Queiroz will participate in a public hearing in the Committees on the Defense of the Rights of the Elderly and on Social Security, Welfare, Childhood, Adolescence, and Family in the Lower House. He will almost certainly be questioned about the INSS fraud scandal.

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