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The House of Representatives approved a rule requiring the immediate release of more than R$15 billion to Lula

The House of Representatives approved a rule requiring the immediate release of more than R$15 billion to Lula

a Parliament This measure was approved on Tuesday 9, a measure that allows the increase in the spending limit to be expected for 2024. In practice, about R$ 15 billion will be released annually. Lula's government.

The text was approved by 304 votes to 136. If the bill is approved by the Senate, President Lula He will be able to unlock the value immediately “under an act of the executive authority”, without going through National Senate.

Some government agents believe the release will resolve the “impasse” surrounding the R$5.6 billion parliamentary amendments objected to by the Workers' Party member. The change was also said to supposedly “help” the executive to reverse the R$2.9 billion ban on financing and investment expenditures announced in March.

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The article changes the new tax framework law and was included at the last minute in the supplementary bill that re-establishes DPVAT insurance. Federal MP Carlos Zaratini (PT-SP) is the rapporteur of the text. In his absence from the plenary session, the change was read by Rep. Rubens Pereira Jr. (PT-MA), who is the deputy head of government in the chamber.

The government may open additional funds if the revenue assessment is positive in the second two-month report, scheduled to be published on May 22.

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The approval of parliamentarians will bring forward this deadline. Therefore, accreditation can be opened after the first bi-monthly assessment of income and expenditure, which was published on March 22. The size of the appropriation corresponds to the difference between the actual increase in the current limit (1.7%) and the maximum allowed under the new financial framework (2.5%).

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Changes to the text were coordinated with Lula's government

According to information received from the newspaper Folha des PauloThe change was coordinated with the executive authority. In the first report, revenue projections were maintained with tax changes approved by the Legislature last year.

Of the package of measures amounting to R$167.6 billion, announced on August 31, 2023 to close budget accounts, the government retained R$144.33 billion. The R$24 billion increase in estimated revenues with the cap on the use of judicial appropriations by companies offset other expenses.

Receiving the amount has become uncertain due to court orders granted in favor of corporations that continue to allow the credits to be used to reduce taxes. The Brazilian Association of Public Corporations (Abrasca) is working in the legislature to eliminate this limit.

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The government expects to collect R$6 billion by the end of the PERS programme, which eliminates taxes on the events sector. However, this measure must be more flexible in the face of resistance from the legislature.

Moreover, the Ministry of Finance is trying to ensure the cash flow of Petrobras' extraordinary dividends. Still according to BoundFernando Haddad wants to guarantee 100% payment, which will generate 12.59 billion Brazilian riyals for the federation. But the most likely scenario is that only 50% will be paid.

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