The government is looking for alternaties to the IOF tax increase, Haddad will give an interview on this topic, and the STF will hold a public hearing on mandatory congressional earmarks

BRAZIL POLITICS - Report 27 Jun 2025 by Murillo de Aragão and Cristiano Noronha

The government is currently evaluating alternatives following Congress’s decision to overturn the IOF tax increase. According to Finance Minister Fernando Haddad, there are three possible paths: identifying new sources of revenue, challenging the overturning of the decree before the Supreme Federal Court (STF), or further budget cuts, which would impact congressional earmarks. Today, Minister Fernando Haddad will give an interview to GloboNews at 2 p.m. on the IOF. The STF will hold a public hearing to discuss the constitutionality of mandatory earmarks with participation of several government leaders.

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