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 was voted symbolically and does not need to go through the presidential sanction to come 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 large majority last week.
The mayor, Hugo Motta (Republicans-PB), taking the government and even Congress leaders’ surprise.
The rapporteur of the text, Deputy Colonel Chrisostomo (PL-RO), while 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 with 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.
O and feared an even greater impact on 2026 accounts.
