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Strategies & Market Trends : Telebras (TBH) & Brazil -- Ignore unavailable to you. Want to Upgrade?

To: Steve Fancy who wrote (9282)	10/29/1998 3:16:00 PM
From: Steve Fancy	Read Replies (17) \| Respond to of 22640

INTERVIEW-Brazil house leader sees CPMF struggle Reuters, Thursday, October 29, 1998 at 15:04 By Giancarlo Summa BRASILIA, Oct 29 (Reuters) - Brazil's Congress should approve the bulk of the government's fiscal austerity plan, but there might be opposition to the key CPMF tax increase, the leader of the lower house Michel Temer said Thursday. Members of Congress were expecting an increase in the CPMF financial transactions tax rate to 0.3 percent from 0.2 percent, but the $84-billion fiscal austerity plan unveiled Wednesday would push the rate up to 0.38 percent. "There isn't resistance to an extension (of the CPMF) nor to an increase to 0.3 percent, but rather against the extra rise of 0.08 percent," said Temer in an interview with Reuters. Copyright 1998, Reuters News Service