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

To: wl9839 who wrote (12092)	1/20/1999 5:27:00 PM
From: Steve Fancy	Respond to of 22640

Hi, This is Steve Fancy's wife, Marisa. He is at one of our kid's basketball game and has installed me at the computer to keep watch and call him as soon as the vote is in. I don't know how to copy articles into SI, but will relay whatever news I find. MF

To: wl9839 who wrote (12092)	1/20/1999 5:36:00 PM
From: Steve Fancy	Read Replies (2) \| Respond to of 22640

Brazil's Lower House Approves Fast-Track On Pension Bill Dow Jones Newswires BRASILIA -- Brazil's lower house of Congress late Wednesday overwhelmingly approved a measure to fast track a critical component of the government's fiscal reform efforts. The measure seeks to increase social security taxes on civil servants and require some retired public workers to contribute to the pension system. The measure aims to earn the government 4 billion reals (BRR) ($1=BRR1.58) a year. The fast-track measure received 352 votes in favor and 143 against. Once the fast track was approved, the lower house immediately began deliberations on the merits of the bill itself. Analysts had said that approval of the fast track could be problematic because it required support from an absolute majority, or half plus one of the 513 elected deputies. The actual legislation only needs to be approved by a simple majority, or half plus one of all house members present. Voting on the pension legislation should begin shortly.