Chamber approves MP that readjusts minimum wage and expands income tax exemption range

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Proposal provides that those who earn up to R$ 2,640 per month will not pay income tax. The project establishes a rule for valuing the minimum. The text will still go through the Senate. Voting score in the Chamber of MP that readjusted the minimum wage Reproduction / TV Câmara The Chamber of Deputies approved this Wednesday (23) a provisional measure that readjusts the minimum wage and expands the income tax exemption range. The score was 439 votes in favor and 1 against, by deputy Luiz Lima (PL-RJ). Soon after, he said he voted wrong. The text now goes to the Senate. The proposal expires next Monday (28). The provisional measure initially dealt only with raising the minimum wage. Published on May 1, the text readjusted the amount from R$1,302 to R$1,320, a real gain (above inflation), as per President Lula’s campaign promise. The rapporteur, deputy Merlong Solano (PT-PI), included in the proposal the expansion of the income tax exemption range, which was discussed in another article. The proposal was approved by the joint committee of Congress. According to the text, those who earn up to R$ 2,640 per month will not pay Income Tax, an amount equivalent to two minimum wages. Currently, this exemption is R$ 1,903. The loss of income from the expansion of the exemption range will be compensated by taxing the funds of the super-rich. “The measures deal with matters of the same nature, increasing the purchasing power of poorer Brazilian men and women. That’s what it’s about,” said Solano. The text also included the taxation of offshore funds, but the measure encountered resistance in the Chamber. The deputies agreed to remove the excerpt through a highlight. This poll is in progress. The rules of the provisional measures come into force as soon as they are published in the “Official Gazette”, but to become definitive law they need to be approved by Congress. Adjustment of the minimum wage impacts a quarter of the Brazilian population, points out Dieese Policy for valuing the minimum wage The approved text establishes the policy for valuing the minimum wage, which will come into force from January 1, 2024. According to the proposal, the valuation will be corresponding to the sum of the inflation index of the previous year with the index corresponding to the real growth of the Gross Domestic Product (GDP) of two previous years. “It is enshrined in law that the president of the republic issues a decree every December based on these indicators, inflation and GDP, in order to have a permanent minimum wage policy”, said the rapporteur. The inflation index that will be considered will be the National Consumer Price Index (INPC), accumulated in the twelve months ended in November of the year prior to the readjustment. In cases where the GDP does not grow, the readjustment will be based only on inflation.

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