IBOV 173,325.65 ▼ 0.03% IPSA 10,954.04 ▲ 0.52% IPC MEX 66,709.60 ▲ 0.88% MERVAL 3,281,979 ▲ 1.81% COLCAP 2,301.34 ▲ 0.13% BVL PERÚ 56,620.35 — — USD/BRL5.06▼ 0.27% USD/MXN17.43▲ 0.08% USD/CLP934.18▼ 0.03% USD/COP3,230▼ 0.79% USD/PEN3.40▲ 0.23% USD/ARS1,478▼ 0.27% USD/UYU40.11▲ 1.23% USD/PYG6,045▲ 1.76% USD/BOB10.80▲ 2.69% USD/DOP58.02▼ 0.31% USD/CRC446.12▲ 1.15% USD/GTQ7.62▲ 2.33% USD/HNL26.74▲ 1.61% USD/NIO36.62▲ 0.72% USD/VES735.39▼ 0.13% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD157.79▲ 0.55% USD/TTD6.73▲ 1.11% EUR/BRL5.77▼ 0.83% BRENT 94.44 ▲ 3.77% WTI 87.61 ▲ 3.18% IRON ORE 161.91 — — COPPER 6.51 ▼ 0.07% GOLD 4,115 ▲ 1.08% SILVER 59.42 ▲ 0.99% SOY 1,225 ▲ 0.41% CORN 478.25 ▲ 5.63% WHEAT 684.75 ▲ 1.00% COFFEE 308.95 ▼ 7.61% SUGAR 14.83 ▼ 0.34% ORANGE JUICE 142.30 ▼ 3.46% COTTON 80.36 ▲ 1.77% COCOA 5,758 ▲ 4.31% BEEF 223.05 ▼ 1.53% CATTLE 344.88 ▼ 2.02% LITHIUM 69.08 ▲ 3.23% PETR4 41.66 ▲ 1.24% VALE3 72.24 ▲ 0.43% ITUB4 42.53 ▲ 0.54% BBDC4 18.55 ▲ 0.76% ABEV3 15.80 ▲ 0.06% BBAS3 20.88 ▲ 3.52% B3SA3 15.17 ▼ 0.59% WEGE3 42.47 ▼ 1.53% PRIO3 58.18 ▲ 0.85% SUZB3 41.63 ▼ 0.62% RENT3 36.55 ▼ 2.51% AZZA3 17.48 ▼ 3.80% CSAN3 3.78 ▼ 1.05% RAIZ4 0.27 — 0.00% PCAR3 2.73 ▲ 5.00% GMAT3 3.83 ▼ 0.52% PSSA3 53.48 ▼ 1.33% CVCB3 1.12 ▲ 3.70% POSI3 3.68 ▼ 0.54% SLCE3 13.75 ▲ 1.33% NATU3 8.71 ▲ 0.93% BRKM5 5.71 ▼ 3.87% RANI3 7.89 ▼ 1.25% CSNA3 5.06 ▼ 0.20% CMIN3 5.58 ▲ 3.53% USIM5 8.46 ▲ 3.68% GGBR4 23.49 ▼ 0.55% ENEV3 25.42 ▼ 0.90% CPFE3 46.40 ▲ 0.17% CMIG4 11.02 — 0.00% EQTL3 38.83 ▼ 1.17% LREN3 13.27 ▼ 0.30% VIVT3 35.80 ▲ 0.36% RAIL3 13.24 ▼ 2.43% KLABIN 17.59 ▲ 0.63% RAIA DROGASIL 18.13 ▼ 3.00% RDOR3 33.92 ▼ 4.32% HAPV3 11.24 ▼ 2.68% FLRY3 16.55 ▼ 0.06% SMTO3 15.58 ▲ 1.10% UGPA3 31.82 ▲ 0.38% VBBR3 33.95 ▼ 0.47% BBSE3 41.55 ▲ 1.22% BPAC11 55.37 ▼ 0.84% CURY3 29.95 ▼ 0.80% AERI3 2.04 ▼ 1.45% VIVARA 21.41 ▼ 2.50% COMPASS 24.44 ▼ 0.65% VAMOS 3.09 — 0.00% SANB11 27.21 ▲ 2.78% ASAI3 8.25 ▲ 1.35% SBSP3 28.60 ▼ 1.31% WALMEX 49.12 ▼ 0.53% GMEXICO 209.54 ▲ 4.34% FEMSA 226.99 ▲ 0.01% CEMEX 22.07 ▲ 0.87% GFNORTE 185.80 ▲ 3.22% BIMBO 59.39 ▼ 0.18% TELEVISA 9.70 ▼ 0.10% AMX 22.76 ▲ 0.09% GAP 378.52 ▲ 0.09% ASUR 274.96 ▲ 0.22% OMA 225.89 ▼ 0.24% KOF 181.05 ▲ 0.13% GRUMA 282.60 ▼ 1.74% KIMBER 38.40 ▲ 0.03% SQM-B 64,540 ▲ 1.80% COPEC 6,450 ▲ 4.03% BSANTANDER 79.01 ▲ 3.84% FALABELLA 5,919 ▲ 1.18% ENELAM 84.53 ▲ 0.50% CENCOSUD 2,028 ▲ 1.14% CMPC 1,084 ▼ 0.38% BANCO CHILE 190.01 ▲ 0.03% LATAM AIR 24.20 ▼ 0.66% YPF 80,625 ▲ 1.80% GGAL 7,965 ▲ 1.53% PAMPA 5,475 ▲ 3.89% TXAR 679.00 ▲ 1.27% ALUAR 973.00 ▲ 1.41% TGS 9,710 ▲ 2.21% CEPU 2,340 ▲ 2.23% MIRGOR 16,775 ▼ 2.04% COME 42.87 ▼ 0.19% LOMA NEGRA 3,605 ▲ 0.91% BYMA 292.25 ▼ 0.51% TELECOM ARG 4,255 ▲ 2.65% ECOPETROL 16.53 ▲ 3.09% BANCOLOMBIA 83.64 ▲ 3.49% GRUPO AVAL 5.09 ▲ 2.83% CREDICORP 391.10 ▲ 1.10% SOUTHERN COPPER 188.01 ▲ 7.39% BUENAVENTURA 31.25 ▲ 3.96% MERCADOLIBRE 1,823 ▼ 0.53% NUBANK 14.39 ▲ 2.86% XP 16.85 ▲ 0.30% PAGSEGURO 9.58 ▲ 3.12% STONE 11.26 ▲ 1.21% GLOBANT 32.10 ▼ 0.59% TECNOGLASS 45.15 ▼ 2.08% GAP AIRPORT 217.68 ▲ 0.26% ASUR 274.96 ▲ 0.22% OMA AIRPORT 104.23 ▲ 0.21% AMX ADR 26.09 ▼ 0.04% FEMSA ADR 130.35 ▲ 0.26% CEMEX ADR 12.70 ▲ 1.68% PETROBRAS ADR 18.54 ▲ 1.92% VALE ADR 14.25 ▲ 1.06% ITAU ADR 8.40 ▲ 0.96% SANTANDER BR 5.40 ▲ 0.56% AMBEV ADR 3.11 ▲ 0.97% CSN 1.01 ▼ 0.50% GERDAU 4.64 ▼ 0.85% LATAM ADR 51.58 ▼ 0.31% BTC 65,993 ▼ 0.77% ETH 1,921 ▼ 0.37% SOL 77.25 ▼ 1.10% XRP 1.13 ▼ 0.77% BNB 569.43 ▼ 0.73% ADA 0.17 ▼ 0.95% DOGE 0.07 ▼ 1.15% AVAX 6.52 ▼ 0.63% LINK 8.61 ▼ 0.40% DOT 0.84 ▼ 0.45% LTC 46.46 ▼ 0.76% BCH 221.49 ▼ 0.99% TRX 0.33 ▼ 0.13% XLM 0.19 ▼ 1.33% HBAR 0.07 ▲ 1.37% NEAR 1.88 ▼ 2.74% ATOM 1.47 ▼ 0.95% AAVE 96.34 ▲ 0.80% SELIC 14.25% EMBRAER 82.65 ▼ 0.77% EMBRAER ADR 65.47 ▼ 0.70% JBS 11.95 ▼ 0.67% JBS BDR 60.22 ▼ 0.94% MBRF3 15.11 ▲ 4.06% MBRFY 2.95 ▲ 1.37% INTER 5.58 ▼ 0.71% EGX 54,025 ▲ 0.07% USD/ZAR16.51▲ 0.23% USD/NGN 1,376 — 0.00% NIKKEI 66,116 ▼ 0.18% CSI300 4,717 ▼ 0.46% HSI 24,873 ▼ 1.03% NIFTY 23,981 ▼ 0.86% KOSPI 6,798 ▲ 0.74% JCI 6,340 — 0.00% USD/JPY163.03▼ 0.09% 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1.08% SILVER 59.42 ▲ 0.99% SOY 1,225 ▲ 0.41% CORN 478.25 ▲ 5.63% WHEAT 684.75 ▲ 1.00% COFFEE 308.95 ▼ 7.61% SUGAR 14.83 ▼ 0.34% ORANGE JUICE 142.30 ▼ 3.46% COTTON 80.36 ▲ 1.77% COCOA 5,758 ▲ 4.31% BEEF 223.05 ▼ 1.53% CATTLE 344.88 ▼ 2.02% LITHIUM 69.08 ▲ 3.23% PETR4 41.66 ▲ 1.24% VALE3 72.24 ▲ 0.43% ITUB4 42.53 ▲ 0.54% BBDC4 18.55 ▲ 0.76% ABEV3 15.80 ▲ 0.06% BBAS3 20.88 ▲ 3.52% B3SA3 15.17 ▼ 0.59% WEGE3 42.47 ▼ 1.53% PRIO3 58.18 ▲ 0.85% SUZB3 41.63 ▼ 0.62% RENT3 36.55 ▼ 2.51% AZZA3 17.48 ▼ 3.80% CSAN3 3.78 ▼ 1.05% RAIZ4 0.27 — 0.00% PCAR3 2.73 ▲ 5.00% GMAT3 3.83 ▼ 0.52% PSSA3 53.48 ▼ 1.33% CVCB3 1.12 ▲ 3.70% POSI3 3.68 ▼ 0.54% SLCE3 13.75 ▲ 1.33% NATU3 8.71 ▲ 0.93% BRKM5 5.71 ▼ 3.87% RANI3 7.89 ▼ 1.25% CSNA3 5.06 ▼ 0.20% CMIN3 5.58 ▲ 3.53% USIM5 8.46 ▲ 3.68% GGBR4 23.49 ▼ 0.55% ENEV3 25.42 ▼ 0.90% CPFE3 46.40 ▲ 0.17% CMIG4 11.02 — 0.00% EQTL3 38.83 ▼ 1.17% LREN3 13.27 ▼ 0.30% VIVT3 35.80 ▲ 0.36% RAIL3 13.24 ▼ 2.43% KLABIN 17.59 ▲ 0.63% RAIA DROGASIL 18.13 ▼ 3.00% RDOR3 33.92 ▼ 4.32% HAPV3 11.24 ▼ 2.68% FLRY3 16.55 ▼ 0.06% SMTO3 15.58 ▲ 1.10% UGPA3 31.82 ▲ 0.38% VBBR3 33.95 ▼ 0.47% BBSE3 41.55 ▲ 1.22% BPAC11 55.37 ▼ 0.84% CURY3 29.95 ▼ 0.80% AERI3 2.04 ▼ 1.45% VIVARA 21.41 ▼ 2.50% COMPASS 24.44 ▼ 0.65% VAMOS 3.09 — 0.00% SANB11 27.21 ▲ 2.78% ASAI3 8.25 ▲ 1.35% SBSP3 28.60 ▼ 1.31% WALMEX 49.12 ▼ 0.53% GMEXICO 209.54 ▲ 4.34% FEMSA 226.99 ▲ 0.01% CEMEX 22.07 ▲ 0.87% GFNORTE 185.80 ▲ 3.22% BIMBO 59.39 ▼ 0.18% TELEVISA 9.70 ▼ 0.10% AMX 22.76 ▲ 0.09% GAP 378.52 ▲ 0.09% ASUR 274.96 ▲ 0.22% OMA 225.89 ▼ 0.24% KOF 181.05 ▲ 0.13% GRUMA 282.60 ▼ 1.74% KIMBER 38.40 ▲ 0.03% SQM-B 64,540 ▲ 1.80% COPEC 6,450 ▲ 4.03% BSANTANDER 79.01 ▲ 3.84% FALABELLA 5,919 ▲ 1.18% ENELAM 84.53 ▲ 0.50% CENCOSUD 2,028 ▲ 1.14% CMPC 1,084 ▼ 0.38% BANCO CHILE 190.01 ▲ 0.03% LATAM AIR 24.20 ▼ 0.66% YPF 80,625 ▲ 1.80% GGAL 7,965 ▲ 1.53% PAMPA 5,475 ▲ 3.89% TXAR 679.00 ▲ 1.27% ALUAR 973.00 ▲ 1.41% TGS 9,710 ▲ 2.21% CEPU 2,340 ▲ 2.23% MIRGOR 16,775 ▼ 2.04% COME 42.87 ▼ 0.19% LOMA NEGRA 3,605 ▲ 0.91% BYMA 292.25 ▼ 0.51% TELECOM ARG 4,255 ▲ 2.65% ECOPETROL 16.53 ▲ 3.09% BANCOLOMBIA 83.64 ▲ 3.49% GRUPO AVAL 5.09 ▲ 2.83% CREDICORP 391.10 ▲ 1.10% SOUTHERN COPPER 188.01 ▲ 7.39% BUENAVENTURA 31.25 ▲ 3.96% MERCADOLIBRE 1,823 ▼ 0.53% NUBANK 14.39 ▲ 2.86% XP 16.85 ▲ 0.30% PAGSEGURO 9.58 ▲ 3.12% STONE 11.26 ▲ 1.21% GLOBANT 32.10 ▼ 0.59% TECNOGLASS 45.15 ▼ 2.08% GAP AIRPORT 217.68 ▲ 0.26% ASUR 274.96 ▲ 0.22% OMA AIRPORT 104.23 ▲ 0.21% AMX ADR 26.09 ▼ 0.04% FEMSA ADR 130.35 ▲ 0.26% CEMEX ADR 12.70 ▲ 1.68% PETROBRAS ADR 18.54 ▲ 1.92% VALE ADR 14.25 ▲ 1.06% ITAU ADR 8.40 ▲ 0.96% SANTANDER BR 5.40 ▲ 0.56% AMBEV ADR 3.11 ▲ 0.97% CSN 1.01 ▼ 0.50% GERDAU 4.64 ▼ 0.85% LATAM ADR 51.58 ▼ 0.31% BTC 65,993 ▼ 0.77% ETH 1,921 ▼ 0.37% SOL 77.25 ▼ 1.10% XRP 1.13 ▼ 0.77% BNB 569.43 ▼ 0.73% ADA 0.17 ▼ 0.95% DOGE 0.07 ▼ 1.15% AVAX 6.52 ▼ 0.63% LINK 8.61 ▼ 0.40% DOT 0.84 ▼ 0.45% LTC 46.46 ▼ 0.76% BCH 221.49 ▼ 0.99% TRX 0.33 ▼ 0.13% XLM 0.19 ▼ 1.33% HBAR 0.07 ▲ 1.37% NEAR 1.88 ▼ 2.74% ATOM 1.47 ▼ 0.95% AAVE 96.34 ▲ 0.80% SELIC 14.25% EMBRAER 82.65 ▼ 0.77% EMBRAER ADR 65.47 ▼ 0.70% JBS 11.95 ▼ 0.67% JBS BDR 60.22 ▼ 0.94% MBRF3 15.11 ▲ 4.06% MBRFY 2.95 ▲ 1.37% INTER 5.58 ▼ 0.71% EGX 54,025 ▲ 0.07% USD/ZAR 16.50 ▲ 0.27% USD/NGN 1,376 — 0.00% NIKKEI 66,116 ▼ 0.18% CSI300 4,717 ▼ 0.46% HSI 24,873 ▼ 1.03% NIFTY 23,981 ▼ 0.86% KOSPI 6,798 ▲ 0.74% JCI 6,340 — 0.00% USD/JPY 162.90 ▼ 0.15% USD/CNY 6.7621 ▲ 0.08% DAX 25,015 ▲ 0.02% CAC 8,380 ▲ 0.20% FTSE 10,588 ▲ 0.02% MIB 52,325 ▲ 0.08% IBEX 19,321 ▼ 0.30% STOXX 641.98 ▼ 0.19% EUR/USD 1.1413 ▲ 0.08% GBP/USD 1.3382 ▲ 0.02% SPX 7,509 ▲ 0.89% DJI 52,225 ▲ 0.74% NDX 29,155 ▲ 1.93% RUT 2,987 ▲ 1.53% TSX 35,369 ▲ 1.17% VIX 17.51 ▲ 2.70% USD/CAD 1.4087 ▼ 0.13% US10Y 4.6280 ▲ 0.65%
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Wednesday, July 22, 2026

Brazil Electoral Court Keeps 2022 Spending Caps for 2026 Vote

By · July 22, 2026 · 4 min read

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Brazil · Politics

Key Facts

Rule issued. The TSE published Ordinance No. 449/2026 on July 21, 2026, formalizing the limits.

2022 caps kept. The court decided on July 1, 2026, to maintain the same spending ceilings from the 2022 election.

Penalty for excess. Overspending triggers a fine of 100% of the excess amount, payable within five business days.

What counts. Limits cover direct contracts, cash transfers to parties or candidates, and in-kind donations.

Legal basis. The caps follow Law No. 9,504/1997 and TSE Resolution No. 23,607/2019.

TSE campaign spending limits for Brazil’s 2026 general elections were officially published on July 21, keeping the same ceilings used in the 2022 race and setting clear financial rules for every office from president to state deputy.

TSE Campaign Spending Limits Set for Brazil's 2026 Vote
Brazil’s electoral court, the TSE, set campaign spending caps for the 2026 vote.
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How the TSE campaign spending limits work

The spending cap applies to the total cost of a candidacy, not just directly contracted expenses. It also includes cash transfers to parties or other candidates and the estimated value of donated goods and services.

Any amount spent above the limit results in a fine equal to 100% of the excess. The violation can also be prosecuted as an abuse of economic power, which may lead to further electoral sanctions.

Presidential and congressional race caps

A presidential candidate can spend up to R$88.9 million (US$17.4 million) in the first round. If a runoff is needed, an additional R$44.4 million (US$8.7 million) is allowed.

Candidates for federal deputy face a limit of roughly R$3.1 million (US$608,000). Those running for state or district deputy can spend about R$1.2 million (US$235,000).

State-level races: governors and senators

In São Paulo, Brazil’s richest state, a governor candidate can spend up to R$26.6 million (US$5.2 million) in the first round, with an extra R$13.3 million (US$2.6 million) for a runoff. A Senate seat in the same state is capped at R$7.1 million (US$1.4 million).

In Bahia, Minas Gerais, and Rio de Janeiro, the governor’s race limit is R$17.7 million (US$3.5 million) in the first round, plus R$8.8 million (US$1.7 million) for a second round. Senate candidates in those states can spend up to R$5.3 million (US$1.04 million).

Smaller states have lower caps. A governor’s race in Ceará is capped around R$11.5 million (US$2.25 million), while in Rondônia the limit is roughly R$6.2 million (US$1.2 million) for the first round.

Enforcement and penalties

Brazil’s Superior Electoral Court (TSE) enforces the limits. A candidate, party, or responsible individual who exceeds the cap must pay the fine within five business days after being notified of the judicial decision.

The court calculates limits based on the number of eligible voters and the office being sought. The full table of limits by state and office is available in the TSE ordinance.

Background: why spending limits matter in Brazil

Brazil introduced strict campaign spending caps to curb the influence of big money in politics after a series of high-profile corruption scandals. The rules are designed to level the playing field and reduce the advantage of wealthier candidates backed by large corporate donors.

For foreign investors and expats, these limits signal a maturing regulatory environment. Transparent spending rules help reduce political risk, making Brazil’s economic policy landscape more predictable during election cycles.

What it means for expats, investors, and the 2026 race

The 2026 election will shape Brazil’s fiscal and regulatory direction for years to come. Clear spending caps give observers a framework to gauge campaign scale and potential influence, especially in key states like São Paulo and Rio de Janeiro.

For tourists and short-term visitors, the election period may bring heightened political activity and occasional protests. Understanding the financial rules behind the campaigns offers useful context for anyone following local news during their stay.

Frequently Asked Questions

What happens if a candidate spends more than the TSE campaign spending limits?

The candidate or party is fined 100% of the excess amount and must pay within five business days after being notified of the judicial decision. The violation may also be prosecuted as an abuse of economic power, which can lead to additional electoral sanctions including the potential annulment of the candidacy.

Do the 2026 spending limits apply to both rounds of the election?

Yes. A separate, additional limit is set for the second round for president and governor races if a runoff is necessary. The first-round cap and the runoff cap are distinct amounts, and spending in each round is tracked independently.

Are in-kind donations included in the spending cap?

Yes. The estimated monetary value of donated goods and services counts toward the total spending limit for a candidacy. This includes any item or service with economic value that a candidate receives without direct payment.

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