Brazil Lower House Votes to Fast-Track Income Tax Exemption Bill

Brazil’s Lower House of Congress voted to fast-track a bill that exempts from the income tax Brazilians who earn up to 5,000 reais per month.

• Bill, which had its urgency approved by acclamation, is sponsored by President Luiz Inacio Lula da Silva
  • Urgency procedure allows the bill to be voted directly by the house floor, without the need of passing through thematic committees first
• Lower House Speaker Hugo Motta said the vote will be scheduled in the next few sessions

To contact the reporters on this story:
Peter Frontini in Sao Paulo at pfrontinisiq@bloomberg.net;
Daniel Carvalho in Brasilia at ...