The week was also marked by the sanctioning of Black Awareness Day as a national holiday and by the inauguration of Paulo Gonet at the PGR
In the Facts of the Week table, the Power360 brings together the main events of the week ending this Saturday (Dec 23, 2023).
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Tax reform
O National Congress enacted on Wednesday (Dec 20) the PEC (Proposed Amendment to the Constitution) for Tax Reform, debated for around 40 years in the Legislature. The president Luiz Inácio Lula da Silva (PT) and the Minister of Finance, Fernando Haddad, were present. Approving tax reform in 2023 was one of the government's priorities.
In his speeches, the president of the Senate, Rodrigo Pacheco (PSD-MG), and that of the Chamber, Arthur Lira (PP-AL), attributed the approval of the reform to the effort of Congress.
LDO
Congress also approved on Friday (Dec 22) the LOA (Annual Budget Law) project for 2024. The proposal establishes R$4.9 billion for the Electoral Fund and a cut in resources from the PAC (Growth Acceleration Program). It also establishes an amount of approximately R$53 billion for parliamentary amendments. It now goes to presidential sanction.
On Tuesday (Dec 19), the LDO project (Budget Guidelines Law) was approved. Now it goes to presidential sanction.
The 2024 LDO establishes a schedule for making amendments and allows the reduction of the preventive block ceiling, contingency, in the Budget. In the vote, the government withdrew from highlighting the withdrawal of the schedule for releasing amendments.
Grants
O Senate approved on Wednesday (Dec 20) the MP (provisional measure) that changes the rules on subsidies for companies. The text goes to presidential sanction.
The government's estimate of revenue from the text was around R$35 billion in 2024. But the MP's rapporteur in the joint committee and in the Chamber, deputy Luiz Fernando Faria (PSD-MG), stated on Monday (Dec 18, 2023) that the federal government could lose around R$800 million with the changes approved in the text.
Sports betting
The Chamber of Deputies approved in the early hours of Friday (Dec 22), the bill that regulates the taxation of sports betting. The inclusion of taxation on online games was a reason for impasse among congressmen. The topic was removed from the proposal in the Senate, but deputies defended its reinclusion in the text. Now it goes to presidential sanction.
Black conscience day
President Lula sanctioned on Thursday (Dec 21), the bill that makes Black Awareness Day a national holiday. The date is celebrated on November 20, the day of the death of the leader of Quilombo dos Palmares, Zumbi dos Palmares, in 1695.
Even with the sanction of the new holiday, Lula had complained on November 10 of the number of days off in 2023. He said that this harmed the GDP result, the Gross Domestic Product. When criticizing holidays, Lula stated that the fact that in 2024 many days off fall on the weekend could help the country's economy.
Gonet at PGR
Paulo Gonet He took office on Monday (Dec 18, 2023), as Attorney General of the Republic. During his speech, he spoke about combating corruption and criminal organizations, but respecting ethical limits.
GDP Preview
The preview of GDP (Gross Domestic Product) fell 0.06% in October in relation to September, according to the Central Bank said on Wednesday (Dec 20, 2023). This was the 3rd consecutive monthly drop.
Economic activity rose 1.54% in October compared to the same month in 2022. It rose 2.36% in the year to date and 2.19% in 12 months.
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