Looks like these congressmen are finally trying to earn those extra 16,000 reais for the extra session (Maybe they finally realized they were giving themselves a pay cut by delaying the social security reform!).
Brazil Congress Vote on Pension Tax Seen Going Into the Night
Brasilia, Brazil, Jan. 20 (Bloomberg) -- Brazil's congress
is likely to be in session into the night before considering a
bill to raise taxes on retired civil servants, a key step to cut
the widening budget deficit, government leaders said.
Legislators have yet to vote to permit consideration of the
bill, an essential procedural step.
The tax, aiming to raise 3.1 billion reais ($2 billion)
this year from state workers and retirees, is vital to convincing
skeptical lenders the government can narrow its 73 billion reais
budget deficit and reduce interest rates. The pension system has
become a symbol of Brazil's failure to live within its means.
So far there are 475 deputies in the lower house floor
debating whether to put the bill on their agenda.
A second vote, to approve the bill, is expected in early
evening and the government's leaders in the house are confident
they will get approval.
''Everything is under control (and) this will be approved
today,'' said Inocencio Oliveira, leader of the Liberal Front
Party in the lower house, the largest party of government's
coalition.
After house passage, the bill would go to the Senate.
------------------------------------------------------------------------
© Copyright 1999, Bloomberg L.P. All Rights Reserved. |
