Brazil's IOF Hike Fuels Political Firestorm

Brazil's IOF Increase Sparks Congressional Outcry: President of the Chamber of Deputies, Hugo Motta, criticizes the government's decision, highlighting concerns about the impact on the economy and the need for administrative reform. Motta's statement, "The country is tired of tax increases," underscores the widespread dissatisfaction. The government has been given ten days to propose an alternative, while debates rage over R$1 trillion in tax exemptions. This situation adds to the already tense political climate in Brasília.