Brazil’s lower house approves ease of austerity law

Last updated on November 11th, 2021 at 04:01 am

Brazil -Brazil’s lower house of Congress, on Tuesday, approved a constitutional amendment allowing far-right President Jair Bolsonaro to spend $16.5 billion next year to ramp up welfare spending.

The chamber voted 323-172 in favour of Bolsonaro.

The measure now advances to the Senate, where Bolsonaro fears that it may face resistance.

Bolsonaro pressed lawmakers to back the amendment, saying that if the government were forced to pay the court-ordered obligations due next year, ” Brazil would go bankrupt.”

The constitutional amendment would allow the government to restructure the court-ordered payments of certain judicial debts and settlements – allowing it more funds at hand to spend on social welfare programs.

Brazil’s financial markets are worried that increased spending would deepen the national budget deficit.

On the other hand, Bolsonaro’s opponents said the bill covered a constitutional spending cap, allowing the government to double social welfare programs. The Opposition fears that the additional spending will spur a populist drive to help Bolsonaro get votes in next year’s presidential election.

Related Posts

The Opposition has also accused Bolsonaro of using a “secret budget” of pork-barrel earmarks to force lawmakers to pass the measure.

Bolsonaro plans to double monthly stipends to $73 and expand the program to cover a total of 17 million low-income families.

The constitutional amendment is crucial for his government to fund a restructured welfare program to be called Auxilio Brasil – replacing the long-standing Bolsa Familia program, which former President Luiz Lula da Silva started.

The current Brazilian President is expected to face Lula in the election next October, although none has officially declared their candidacy.

Opinion polls show that a total of seven in 10 Brazilians would pick one of them as their first choice for President, with new surveys revealing that Lula has a comfortable lead at the moment.

Vishwajeet

Recent Posts

Lebanese Politician Urges Hezbollah to Disarm Amid Rising Regional Tensions

In a recent interview with LBCI news channel of Lebanon former MP Fares Souaid warned about growing military tensions in… Read More

November 8, 2024

UAE Sends 288 Tonnes of Aid to Gaza in Ongoing Operation Chivalrous Knight 3

According to the UAE’s state news agency this week two shipments of aid from the UAE entered Gaza through the… Read More

November 8, 2024

Home Hero Sinner Eyes Glory at ATP Finals in Turin

Current world no. 1, Jannik Sinner is also planning to play in the ATP Finals in Turin between the 10th… Read More

November 8, 2024

‘Brutal’ Year: Prince William Opens Up About Family’s Cancer Battles

USA Today reported that Prince William said that this past year was ‘probably the hardest’ of his life due to… Read More

November 8, 2024

UAE and WHO Unite to Evacuate Critically Injured Palestinians from Gaza

In a collaborative humanitarian mission with the World Health Organization the Gulf nation UAE evacuated 86 critically injured patients from… Read More

November 8, 2024

Power Cut to 70,000 Customers in Southern California Due to Wildfire Risk

Southern California Edison the main electric provider in the region intentionally cut power to nearly 70,000 customers overnight as a… Read More

November 7, 2024

This website uses cookies.

Read More