Minister said that tax increase does not reach individuals, unlike Senator Ciro Nogueira this Wednesday (9.Jul.2025) in the morning
The Minister of Economy, (PT), declared this Wednesday (9.Jul) in what “Opposition needs to inform and stop lying”. The post contains a video of the moment when the Senator and President of the PP, (PI), is corrected on the information he was with the IOF (Financial Operations Tax).
On the morning of this Wednesday, Nogueira for the increase in IOF. He stated that if the tax affects the low -income population, Congress will not accept the change.
In the video shared by Haddad, journalist Monica Waldvogel interrupts the interview with a statement of correction from the Ministry of Finance. “A small correction: In everything that refers to the loans linked to individuals, there was no increase in IOF. Changes were made on other operations, such as currency purchase, credit card used abroad and draweed risk”She says.
Watch:
Who has no argument, mind:
The IOF of the individual has not increased a penny. Who increased was Bolsonaro.
We created believing, unfolding, and the private consignment. Clean name and cheaper credit.
The opposition needs to be informed – and stop lying.– Fernando Haddad (@haddad_fernando)
“The IOF of the individual did not increase a penny. Who increased was Bolsonaro”Haddad wrote.
The minister again insisted on changing the president’s rate (PT) and Congress on the night of 3rd (8.Jul). The idea of the meeting was to resume the dialogue about the impasse, but it ended inconclusively. Read more.
A divergence was evidenced:
- government – Haddad said he will make all efforts to convince the Federal Supreme Court about the constitutionality of IOF collection with larger rates;
- Congress -The mayor (Republicans-PB) said that a new tax or elevation of current rates would be well received within the legislature and that the government needs to seek ways to cut spending.
The government decided to increase the IOF to close the 2025 accounts. Congress overturned on June 27, 2025 the presidential decree with a significant vote in the House and symbolic approval (without vote registration) in the Senate. The government went to the Supreme Court (STF) to try to annul the decision of deputies and senators. Opposition parties also entered the STF to keep the IOF’s overthrow.
On July 4, 2025, Minister Alexandre de Moraes decided to suspend the effects of the IOF presidential decree and the congress vote overturned the increase in this tax. In practice, the dispatch of Moraes was bad for the government. IOF with larger rates, as Fernando Haddad wanted, continued without being charged.
To get an idea of how the measure reduces government collection just see June data: a collection of $ 8 billion IOF. This amount is the highest recorded for 1 single month since 2005. Now, in July, the fee has been charged again with previous percentages. This should thwart federal revenues by about $ 2 billion.
“It was a meeting to resume dialogue. We are no use. Tomorrow I will report to the leaders a little of this willingness to talk and say that we are available to have a dialogue and that we know of government difficulties to raise. But we are always more likely to cut expenses, not for tax increases.”said Hugo Motta to Poder360.
