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COUNTRY INSIGHTS

Trump defended Bolsonaro on social media, the Senate may vote on the bill that legalizes gambling, casinos and bingo today, and the Workers’ Party (PT) elected Edinho Silva as its new national president
BRAZIL POLITICS · Report · 08 Jul 2025

Yesterday, United States President Donald Trump used his social media platforms to defend former President Jair Bolsonaro. His statement will have no impact on the trial of the former president. Bolsonaro is expected to be convicted by the Supreme Federal Court (STF) in the second half of the yea...

Tarcísio gains strength for 2026 and other weekly topics
BRAZIL POLITICS · Report · 07 Jul 2025

Negotiations continue between representatives of the three branches of government on the IOF issue. Deputy Arthur Lira, rapporteur of the bill on Income Tax, will present his report. The Joint Budget Committee may vote on its preliminary report on the Budget Guidelines Bill (PLDO). This week's...

Lira will submit his report on the income tax bill, the Senate may vote on the bill that legalizes gambling, casinos and bingo tomorrow, and the PT may announce its new president today
BRAZIL POLITICS · Report · 07 Jul 2025

Deputy Arthur Lira (PP-AL), rapporteur for the bill that exempts income tax for those earning up to R$5,000 per month, will submit his report to the Special Committee discussing the matter. After Lira presents his report, a request for a review is expected. Voting in the Lower House plenary is sc...

The AGU filed an ADC to defend the constitutionality of the IOF tax hike, the House postponed the vote on the urgent status request for the tax benefits bill, and the Senate approved the MP that expands access to the Social Fund
BRAZIL POLITICS · Report · 02 Jul 2025

The Office of the Attorney General (AGU) has filed a Declaratory Action of Constitutionality (ADC 96) with the Supreme Federal Court (STF) to defend the constitutionality of President Lula’s decree increasing the Tax on Financial Transactions (IOF). Justice Alexandre de Moraes is serving as the r...

Hugo Motta stated that the vote to overturn the IOF tax hike had support from both the right and the left, the House may vote on an urgent status request for another tax bill, and the import tax on electric vehicles will increase
BRAZIL POLITICS · Report · 01 Jul 2025

The President of the Lower House, Hugo Motta (Republicanos-PB), stated that the vote to overturn the IOF tax hike included support from both right- and left-wing deputies. He criticized what he called the polarization of “us versus them.” Today, the House may vote on an urgent status request for ...

The IOF battle heads to the Supreme Court and other weekly topics
BRAZIL POLITICS · Report · 30 Jun 2025

The repeal of the IOF decree by Congress continues to resonate. The government is seeking a solution to offset the lost revenue. Lawmakers are staging a protest against Provisional Measure (MP) No. 1,303/25, which taxes financial investments and raises taxes on bets and fintechs. The government i...

Bolsonaro held a rally yesterday, the government continues to discuss alternatives to the IOF, and the government will launch the Sustainable Car program this week
BRAZIL POLITICS · Report · 30 Jun 2025

Yesterday, former President Jair Bolsonaro held a rally in São Paulo in support of an amnesty bill. The crowd, estimated between 16,000 and 17,000 people, was one of the smallest turnouts at an event organized by the former president. In the coming days, the government may decide what measures to...

The government is looking for alternatives to the IOF tax increase, Haddad will give an interview on this topic, and the STF will hold a public hearing on mandatory congressional earmarks
BRAZIL POLITICS · Report · 27 Jun 2025

The government is currently evaluating alternatives following Congress’s decision to overturn the IOF tax increase. According to Finance Minister Fernando Haddad, there are three possible paths: identifying new sources of revenue, challenging the overturning of the decree before the Supreme Feder...

The House and Senate approved the overturning of the IOF decree, the House also passed a bill that increases the total number of deputies, and the STF discusses the liability of big tech companies
BRAZIL POLITICS · Report · 26 Jun 2025

Both the Lower House and the Senate have approved a legislative decree overturning President Lula’s executive order that raised the Financial Transactions Tax (IOF)—a symbolic defeat for the administration in Congress that underscores growing dissatisfaction even among allied parties. Yesterday, ...

The House may vote to overturn the presidential decree on the IOF, the STF will resume adjudication of the liability of big tech companies, and the CNPE may announce a change in the blends of gasoline and diesel
BRAZIL POLITICS · Report · 25 Jun 2025

The President of the Lower House, Hugo Motta (Republicanos-PB), announced that the House will vote today on a bill to overturn the presidential decree that raised the IOF (Financial Transactions Tax). If the bill does reach a floor vote today, it is likely to pass. The Supreme Federal Court (STF)...

Justice Toffoli holds a hearing on compensation for victims of the INSS scheme, Haddad and Padilha address the new SUS program, and the Mines and Energy Ministry may announce new gasoline blend percentages
BRAZIL POLITICS · Report · 24 Jun 2025

Supreme Federal Court (STF) Justice Dias Toffoli has scheduled a conciliation hearing for today to address compensation for retirees and pensioners who were victims of fraudulent membership-related deductions from their INSS benefits. Today, Finance Minister Fernando Haddad and Health Minister Al...

Entrenched polarization and other weekly topics
BRAZIL POLITICS · Report · 23 Jun 2025

The government may present party leaders with a proposal for a 10% across-the-board cut in tax benefits. According to Deputy Finance Minister Dario Durigan, the Manaus Free Trade Zone and personal income tax deductions would be preserved. Arthur Lira (PP-AL) is expected to present his report on t...

The Ministry of Finance is expected to propose a 10% cut in tax benefits, the National Energy Policy Council is expected to discuss increasing the ethanol blend in gasoline, and the STF will have a busy week
BRAZIL POLITICS · Report · 23 Jun 2025

In an interview last week, Executive Secretary of the Finance Ministry Dario Durigan said the economic team is expected to present a proposal this week to the presidents of the Lower House and the Senate, as well as to party leaders, calling for a 10% across-the-board cut in tax benefits. Also sc...

Senator Alcolumbre read the request to establish a CPMI into the INSS scandal, Congress overturned a presidential veto that would have increased taxes, and the Central Bank will announce the Selic
BRAZIL POLITICS · Report · 18 Jun 2025

The President of Congress, Senator Davi Alcolumbre (União-AP), has read the request to establish a Joint Parliamentary Committee of Inquiry (CPMI) into the INSS and authorized the formation of the panel. Yesterday, during a joint congressional session, lawmakers also voted on presidential vetoes....

The House approved the urgent status of the legislative decree on the IOF, Congress is expected to analyze presidential vetoes, and the Copom meetings will begin today to decide on the benchmark interest rate
BRAZIL POLITICS · Report · 17 Jun 2025

As expected, the Lower House approved the urgent status for the legislative decree bill that overrides President Lula’s decree on the IOF tax. The margin was wide: 346 to 97. A session of the National Congress is scheduled for today. More than 60 presidential vetoes are pending review, some datin...

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