Government supporters point to the opposition's caution regarding the IOF Provisional Measure.
Opponents prefer to let the measure expire rather than face the backlash of defending large investors.
247 - Parliamentarians from the government base believe that both the Centrão and the opposition are more restrained in their attempt to block the provisional measure that expands taxation on previously exempt financial investments, created to compensate for the increase in IOF. The vote was scheduled for this Tuesday (30), but was postponed by decision of the president of the Chamber, Hugo Motta (Republicanos-PB), who is seeking to forge an agreement on the subject.
According to the MetropolisThe opposition's change of stance reflects a strategy to avoid further damage. Government leaders say that, instead of mobilizing votes to reject the text in plenary, opponents prefer to wait for the provisional measure to expire without approval, which would automatically render the proposal ineffective.
Fear of being labeled again as "defenders of the rich"
The caution stems from recent events. When Congress overturned a decree by President Luiz Inácio Lula da Silva (PT) that altered IOF tax rates, parliamentarians from the Centrão and the opposition faced strong reactions on social media, accused of protecting the wealthy. Although the Supreme Federal Court later validated the decree, recognizing the government's prerogative, the political fallout left its mark on the opposition base.
Impact on fintechs and link to investigations
Another factor that, according to government supporters, explains the opposition's retraction is the direct effect of the Provisional Measure on digital banks. The proposal raises the CSLL (Social Contribution on Net Profit) for fintechs, precisely at a time when some of them are at the center of Operation Hidden Carbon, which targeted financial structures linked to the PCC (First Command of the Capital). This would make it difficult to publicly defend the sector, considered sensitive in the eyes of the public.
Scope of the provisional measure
The text reported by Congressman Carlos Zarattini (PT-SP) foresees an increase in taxation on sports betting, establishes new rules for securities, and begins taxing investments that were previously exempt from the tax. For government supporters, this is a necessary package to balance public accounts in light of the increase in the IOF (Tax on Financial Operations).
Despite resistance to the content of the provisional measure, the prevailing view within Congress is that the political cost of opposing it may be greater than simply letting it expire without a vote.
