The Senate approved on Wednesday (25) the project of Legislative Decree that nullifies the increase in the tax on financial operations (IOF) announced by the Lula government in May.
The proposal, that had already been approved by the Chamberwas voted symbolically and does not need to go through the presidential sanction to enter into force.
With this, Congress imposes another defeat on the Planalto Palace, which had extra collection to try to balance the public accounts.
The measure was accelerated after the House approve its urgency regime by large majority last week.
Mayor Hugo Motta (Republicans-PB), Last -minute vote guidedtaking the government and even congressional leaders’ surprise.
The rapporteur of the text, the deputy Colonel Chrostomo (PL-RO), stated that the executive sought to increase taxes instead of controlling expenseswhen trying to raise the IOF rate in operations such as exchange, credit and international transfers.
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The federal government had been articulating to contain the advancement of the project, using the June recess and the payment of amendments as strategies to gain time.
In addition to the content of the decree, the political climate also weighed.
Parliamentarians of the base and opposition expressed dissatisfaction with the low execution of the amendments and the attempt by the Plateau to hold Congress responsible for a possible increase in the electricity billafter the overthrow of presidential vetoes.
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With the revocation of the decrees, previous IOF rates are valid again, which represents, for example, the reversal of an increase to 3.5% in operations with international credit cards and shipments abroad – a point that had been criticized for directly reaching consumers.
THE Government estimated to raise $ 10 billion with the measure by 2025 and feared an even greater impact on 2026 accounts.
