The House approved the Tax Reform regulation bill, the first bill of the fiscal package was approved, and the Joint Budget Committee approved the LDO

BRAZIL POLITICS - Report 18 Dec 2024 by Murillo de Aragão and Cristiano Noronha

Yesterday, the Lower House approved the bill that regulates Tax Reform, PLP 68 of 2024. The final version reversed some changes made in the Senate. The government achieved a partial victory with the approval of the Complementary Bill of the fiscal package. This is one of three bills comprising the package. The PLP establishes fiscal framework triggers in case of a primary deficit. Meanwhile, the Joint Budget Committee (CMO) approved the 2025 Budget Guidelines Law (LDO) report. The rapporteur removed a provision that required the government to withhold funds to meet the zero-deficit fiscal target by October 2025.

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