🎭 Haddad's political tightrope

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Good morning! The 25th season of reality show Big Brother Brasil (BBB) premiered last night to the lowest ratings in the show's history. Experts say the lackluster numbers are proof of the crisis of media behemoth Globo — and question whether BBB will continue to be the cultural phenomenon (and advertising magnet) it has been for decades.

Can a finance minister also be a presidential hopeful?

Meta's decision to end its fact-checking program in the US last week coincided with a surge of disinformation targeting Brazilian Finance Minister Fernando Haddad. In a video posted Thursday, Haddad refuted claims that the government planned to introduce a tax on PIX, Brazil's ubiquitous instant payment system.

Driving the (fake) news. Social media posts, amplified by far-right politicians, alleged PIX would face taxation. In reality, Brazil's Federal Revenue is expanding its monitoring of PIX transactions to fight money laundering and tax evasion.

• A deepfake video of Haddad falsely claiming he would “tax everything” — including pets and unborn babies — was removed by Meta at the request of the Solicitor General’s Office.

The big picture. Haddad faces the Herculean task of meeting Brazil’s zero-deficit goals in a government that has jacked up social spending, which has helped reduce poverty but also put massive strains on the budget. Haddad has sought to find fiscal balance by raising revenue instead of cutting spending, often by eliminating tax benefits on the rich.

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