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Tax Reform in Brazil Stalled in the Midst of Political Dispute and “Fiscal Abyss”

RIO DE JANEIRO, BRAZIL - Brazil is heading into a “fiscal abyss” and a serious crisis next year, following the decision to postpone parliamentary debate on a bill extending emergency aid spending, lower house speaker Rodrigo Maia said on Friday.

Senator Marcio Bittar said that he would no longer present his proposal for debate until next year due to its “complexity.”

Speaking at a ceremony in Brasilia on Friday evening, a visibly irritated Maia accused the government of trying to undermine the chamber, which is raising political and financial risks for the country at a delicate juncture.

“Now, once again, with . . .

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