Lula’s veto of the payroll tax relief was overturned, the ICMS MP should be approved by the end of next week, and next week is the final week of activity before Congress recesses

BRAZIL POLITICS - Report 15 Dec 2023 by Murillo de Aragão and Cristiano Noronha

President Lula's veto of the bill dealing with payroll tax relief was overturned. The votes, both in the House and the Senate, were significant. After intense negotiations, the president of the House, Arthur Lira (PP-AL), postponed the analysis of ICMS subsidies provisional measure (MP 1185/23) and Tax Reform until today. Voting is scheduled to begin this morning, virtually. We expect this MP to be approved in both Houses of Congress by the end of next week. Next week is the final week of activity for the National Congress, which recesses on December 22. The government hopes to complete the vote on the Budget Guidelines Law (LDO) and the Federal Budget.

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