Alckmin will present the transition amendment this Wednesday at 18 PM, says the PT leader in the Senate.

BRASILIA (Reuters) - The vice-president-elect and coordinator of the government transition, Geraldo Alckmin, will present the text of the PEC of the government transition "This Wednesday at 18 PM, in the Senate," said the PT leader in the House, Senator Paulo Rocha.

Rocha stated that the measure will remove from the spending cap, exclusively, the R$600 Brazil Aid payment, with an additional R$150 per child in beneficiary families -- which should be renamed Bolsa Família.

The senator explained that the The wording will not define a duration for the exception to the tax rule.However, this will be discussed during the legislative process in Congress. The term could be one year, but the PT will work to make it four years, he stated.

"It's a negotiation process. The PEC doesn't have a date, it doesn't have a deadline," he said. "We are building a majority for a four-year term."

If implemented, the change should remove approximately 175 billion reais from the fiscal rule's accounting in 2023. Of this total, a margin of 105 billion reais should be opened in the spending cap next year to allow for new expenses, such as adjustments to spending on health, education, housing, and other public works.

According to Rocha, the details of these expenses for 2023 will be provided at a later stage, during the restructuring of next year's Annual Budget Law.

The senator also stated that the party will work to get the text voted on quickly in the Senate next week, giving the House two more weeks to approve the proposal.

"The proposed amendment will be presented to both Houses. It will begin in the Senate, because the Senate's procedural pace is faster than that of the Chamber of Deputies," he said.

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