The House should vote today on a legislative decree that revokes the President’s decree on the IOF, Congress is expected to discuss budget fund transfers, and presidential vetoes are scheduled to be analyzed tomorrow

BRAZIL POLITICS - Report 16 Jun 2025 by Murillo de Aragão and Cristiano Noronha

A vote is scheduled for today on the urgent status of a legislative decree bill that seeks to override the President’s decree increasing the Financial Transactions Tax (IOF). There is pressure from sectors of the Lower House not only for the urgent status of the bill but also for a vote on the bill’s merits. In addition to resistance to the fiscal package, there is widespread dissatisfaction among lawmakers over the pace of budget fund transfer payments and political appointments. For Tuesday, a joint session of Congress has been scheduled to analyze presidential vetoes. Among the pending vetoes are the partial veto (VET No. 10/25) of the 2025 Budget Law (Law No. 15.121/25) and the veto of R$ 2.97 billion in financial expenditures from the National Fund for Scientific and Technological Development (FNDCT).

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