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US$32 billion spending bill is approved by the Brazilian Senate plenary

The Brazilian Senate plenary approved, on Wednesday, Dec. 7, the Proposal of Amendment to the Constitution (Transition PEC) regarding higher spending.

There were 64 votes in favor and 16 against.

The text increases the spending cap by R$145 billion annually for two years and opens a margin of almost R$24 billion, within the fiscal rules, for public investment.

The total fiscal impact will be just over R$ 168 (US$32) billion. Of this amount, R$70 billion will be allocated to Auxílio Brasil, the future Bolsa Família, which provides for the payment of R$600 per . . .

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