President Luiz Inácio Lula da Silva secured a key political and economic victory this week as the Senate unanimously approved his proposal to exempt all Brazilians earning up to BRL 5,000 a month (USD 934) from paying income tax.
The reform, which is one of Lula’s main campaign promises, is set to take effect next year and could help shape the 2026 election. People earning between BRL 5,000 and 7,350 a month, meanwhile, will enjoy partial exemptions.
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