IBOV 177,512.41 ▼ 0.27% IPSA 11,014.88 ▼ 0.02% IPC MEX 66,935.53 ▼ 0.58% MERVAL 3,287,637 ▼ 0.11% COLCAP 2,382.69 ▼ 0.39% BVL PERÚ 57,378.30 — — USD/BRL5.09▲ 0.23% USD/MXN17.32▲ 0.05% USD/CLP924.39▼ 0.72% USD/COP3,228▲ 0.79% USD/PEN3.39▼ 0.09% USD/ARS1,494▲ 0.57% USD/UYU40.27▲ 0.17% USD/PYG5,936▲ 0.08% USD/BOB12.07▼ 0.25% USD/DOP57.83▼ 0.28% USD/CRC448.42— 0.00% USD/GTQ7.62▼ 0.08% USD/HNL26.78▲ 0.07% USD/NIO 36.62 — 0.00% USD/VES746.91▼ 0.13% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD157.10▼ 0.06% USD/TTD6.74▲ 0.40% EUR/BRL5.85▼ 0.12% BRENT 83.81 ▼ 7.00% WTI 80.31 ▼ 5.15% IRON ORE 161.91 — — COPPER 6.54 ▲ 1.67% GOLD 4,111 ▲ 1.53% SILVER 58.31 ▲ 1.25% SOY 1,192 ▲ 1.73% CORN 473.00 ▲ 7.32% WHEAT 651.50 ▲ 1.92% COFFEE 321.15 ▼ 3.30% SUGAR 15.01 ▲ 2.39% ORANGE JUICE 159.20 ▲ 2.74% COTTON 81.39 ▲ 1.11% COCOA 5,903 ▲ 9.38% BEEF 227.03 ▼ 2.04% CATTLE 343.00 ▼ 1.44% LITHIUM 69.31 ▲ 0.13% PETR4 42.82 ▼ 1.38% VALE3 74.44 ▼ 2.41% ITUB4 43.05 ▲ 0.42% BBDC4 18.57 ▲ 0.86% ABEV3 15.78 ▼ 1.31% BBAS3 21.30 ▼ 0.23% B3SA3 15.63 ▼ 0.64% WEGE3 48.42 ▲ 2.58% PRIO3 58.76 ▼ 3.43% SUZB3 43.18 ▼ 0.32% RENT3 38.09 ▲ 1.28% AZZA3 16.34 ▼ 0.49% CSAN3 4.08 ▲ 0.25% RAIZ4 0.25 ▼ 3.85% PCAR3 2.72 ▲ 5.02% GMAT3 4.01 ▼ 0.50% PSSA3 54.09 ▼ 1.12% CVCB3 1.42 ▲ 8.40% POSI3 3.53 ▼ 0.56% SLCE3 13.38 — 0.00% NATU3 8.55 ▲ 2.03% BRKM5 5.93 ▼ 0.67% RANI3 8.44 ▲ 4.07% CSNA3 4.55 ▼ 5.99% CMIN3 5.75 ▲ 0.70% USIM5 7.58 ▲ 2.99% GGBR4 25.45 ▲ 1.88% ENEV3 26.77 ▲ 1.75% CPFE3 45.99 ▼ 0.33% CMIG4 11.27 ▼ 0.62% EQTL3 38.88 ▲ 0.57% LREN3 13.92 ▲ 2.35% VIVT3 32.29 ▼ 1.04% RAIL3 14.11 ▼ 2.29% KLABIN 18.31 ▲ 0.33% RAIA DROGASIL 18.80 ▲ 1.73% RDOR3 34.14 ▼ 1.44% HAPV3 11.92 ▲ 5.67% FLRY3 17.27 ▲ 0.76% SMTO3 14.38 ▼ 0.96% UGPA3 33.05 — 0.00% VBBR3 36.22 ▲ 0.47% BBSE3 41.32 ▲ 0.15% BPAC11 57.27 ▲ 0.83% CURY3 31.54 ▲ 4.82% AERI3 2.14 ▼ 0.47% VIVARA 22.85 ▲ 3.02% COMPASS 25.04 ▲ 0.81% VAMOS 3.29 ▼ 1.50% SANB11 28.92 ▲ 1.05% ASAI3 8.51 ▲ 0.12% SBSP3 27.42 ▼ 1.01% WALMEX 49.80 ▼ 0.90% GMEXICO 212.28 ▲ 2.20% FEMSA 217.16 ▼ 1.94% CEMEX 20.62 ▲ 0.54% GFNORTE 198.23 ▼ 1.17% BIMBO 61.32 ▼ 1.03% TELEVISA 9.69 ▼ 1.22% AMX 21.60 ▼ 2.13% GAP 375.15 ▼ 0.37% ASUR 275.42 ▼ 0.07% OMA 230.10 ▼ 0.53% KOF 185.00 ▼ 1.21% GRUMA 263.99 ▲ 2.23% KIMBER 40.09 ▼ 0.27% SQM-B 61,940 ▼ 1.21% COPEC 6,298 ▼ 0.82% BSANTANDER 79.87 ▼ 1.38% FALABELLA 6,315 ▲ 1.58% ENELAM 87.03 ▼ 1.09% CENCOSUD 1,951 ▼ 0.20% CMPC 1,062 ▲ 0.68% BANCO CHILE 191.20 ▼ 1.30% LATAM AIR 25.23 ▲ 1.98% YPF 8,130 ▼ 1.93% GGAL 7,975 ▲ 1.18% PAMPA 5,505 ▼ 0.90% TXAR 656.00 ▼ 0.53% ALUAR 968.00 ▼ 0.97% TGS 9,930 ▼ 1.19% CEPU 2,371 ▼ 1.04% MIRGOR 1,635 ▼ 90.00% COME 43.40 ▼ 1.43% LOMA NEGRA 3,580 ▼ 1.11% BYMA 294.25 ▼ 0.42% TELECOM ARG 4,410 ▲ 0.06% ECOPETROL 16.60 ▼ 1.04% BANCOLOMBIA 91.32 ▼ 1.30% GRUPO AVAL 5.20 ▼ 1.52% CREDICORP 395.73 ▼ 1.21% SOUTHERN COPPER 186.58 ▲ 2.12% BUENAVENTURA 30.38 ▲ 0.33% MERCADOLIBRE 1,902 ▲ 1.29% NUBANK 14.46 ▲ 0.91% XP 17.01 ▼ 0.32% PAGSEGURO 9.63 ▼ 0.16% STONE 11.32 ▼ 0.48% GLOBANT 37.56 ▲ 2.61% TECNOGLASS 46.68 ▲ 7.46% GAP 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4,111 ▲ 1.53% SILVER 58.31 ▲ 1.25% SOY 1,192 ▲ 1.73% CORN 473.00 ▲ 7.32% WHEAT 651.50 ▲ 1.92% COFFEE 321.15 ▼ 3.30% SUGAR 15.01 ▲ 2.39% ORANGE JUICE 159.20 ▲ 2.74% COTTON 81.39 ▲ 1.11% COCOA 5,903 ▲ 9.38% BEEF 227.03 ▼ 2.04% CATTLE 343.00 ▼ 1.44% LITHIUM 69.31 ▲ 0.13% PETR4 42.82 ▼ 1.38% VALE3 74.44 ▼ 2.41% ITUB4 43.05 ▲ 0.42% BBDC4 18.57 ▲ 0.86% ABEV3 15.78 ▼ 1.31% BBAS3 21.30 ▼ 0.23% B3SA3 15.63 ▼ 0.64% WEGE3 48.42 ▲ 2.58% PRIO3 58.76 ▼ 3.43% SUZB3 43.18 ▼ 0.32% RENT3 38.09 ▲ 1.28% AZZA3 16.34 ▼ 0.49% CSAN3 4.08 ▲ 0.25% RAIZ4 0.25 ▼ 3.85% PCAR3 2.72 ▲ 5.02% GMAT3 4.01 ▼ 0.50% PSSA3 54.09 ▼ 1.12% CVCB3 1.42 ▲ 8.40% POSI3 3.53 ▼ 0.56% SLCE3 13.38 — 0.00% NATU3 8.55 ▲ 2.03% BRKM5 5.93 ▼ 0.67% RANI3 8.44 ▲ 4.07% CSNA3 4.55 ▼ 5.99% CMIN3 5.75 ▲ 0.70% USIM5 7.58 ▲ 2.99% GGBR4 25.45 ▲ 1.88% ENEV3 26.77 ▲ 1.75% CPFE3 45.99 ▼ 0.33% CMIG4 11.27 ▼ 0.62% EQTL3 38.88 ▲ 0.57% LREN3 13.92 ▲ 2.35% VIVT3 32.29 ▼ 1.04% RAIL3 14.11 ▼ 2.29% KLABIN 18.31 ▲ 0.33% RAIA DROGASIL 18.80 ▲ 1.73% RDOR3 34.14 ▼ 1.44% HAPV3 11.92 ▲ 5.67% FLRY3 17.27 ▲ 0.76% SMTO3 14.38 ▼ 0.96% UGPA3 33.05 — 0.00% VBBR3 36.22 ▲ 0.47% BBSE3 41.32 ▲ 0.15% BPAC11 57.27 ▲ 0.83% CURY3 31.54 ▲ 4.82% AERI3 2.14 ▼ 0.47% VIVARA 22.85 ▲ 3.02% COMPASS 25.04 ▲ 0.81% VAMOS 3.29 ▼ 1.50% SANB11 28.92 ▲ 1.05% ASAI3 8.51 ▲ 0.12% SBSP3 27.42 ▼ 1.01% WALMEX 49.80 ▼ 0.90% GMEXICO 212.28 ▲ 2.20% FEMSA 217.16 ▼ 1.94% CEMEX 20.62 ▲ 0.54% GFNORTE 198.23 ▼ 1.17% BIMBO 61.32 ▼ 1.03% TELEVISA 9.69 ▼ 1.22% AMX 21.60 ▼ 2.13% GAP 375.15 ▼ 0.37% ASUR 275.42 ▼ 0.07% OMA 230.10 ▼ 0.53% KOF 185.00 ▼ 1.21% GRUMA 263.99 ▲ 2.23% KIMBER 40.09 ▼ 0.27% SQM-B 61,940 ▼ 1.21% COPEC 6,298 ▼ 0.82% BSANTANDER 79.87 ▼ 1.38% FALABELLA 6,315 ▲ 1.58% ENELAM 87.03 ▼ 1.09% CENCOSUD 1,951 ▼ 0.20% CMPC 1,062 ▲ 0.68% BANCO CHILE 191.20 ▼ 1.30% LATAM AIR 25.23 ▲ 1.98% YPF 8,130 ▼ 1.93% GGAL 7,975 ▲ 1.18% PAMPA 5,505 ▼ 0.90% TXAR 656.00 ▼ 0.53% ALUAR 968.00 ▼ 0.97% TGS 9,930 ▼ 1.19% CEPU 2,371 ▼ 1.04% MIRGOR 1,635 ▼ 90.00% COME 43.40 ▼ 1.43% LOMA NEGRA 3,580 ▼ 1.11% BYMA 294.25 ▼ 0.42% TELECOM ARG 4,410 ▲ 0.06% ECOPETROL 16.60 ▼ 1.04% BANCOLOMBIA 91.32 ▼ 1.30% GRUPO AVAL 5.20 ▼ 1.52% CREDICORP 395.73 ▼ 1.21% SOUTHERN COPPER 186.58 ▲ 2.12% BUENAVENTURA 30.38 ▲ 0.33% MERCADOLIBRE 1,902 ▲ 1.29% NUBANK 14.46 ▲ 0.91% XP 17.01 ▼ 0.32% PAGSEGURO 9.63 ▼ 0.16% STONE 11.32 ▼ 0.48% GLOBANT 37.56 ▲ 2.61% TECNOGLASS 46.68 ▲ 7.46% GAP AIRPORT 216.30 ▼ 0.48% ASUR 275.42 ▼ 0.07% OMA AIRPORT 106.21 ▼ 0.65% AMX ADR 24.89 ▼ 1.83% FEMSA ADR 125.08 ▼ 2.27% CEMEX ADR 11.88 ▲ 0.47% PETROBRAS ADR 19.05 ▼ 1.83% VALE ADR 14.60 ▼ 3.09% ITAU ADR 8.48 ▲ 0.18% SANTANDER BR 5.72 ▲ 0.88% AMBEV ADR 3.06 ▼ 1.61% CSN 0.91 ▼ 7.46% GERDAU 5.02 ▲ 1.21% LATAM ADR 54.54 ▲ 3.37% BTC 63,803 ▲ 0.51% ETH 1,869 ▼ 0.74% SOL 73.96 ▲ 0.70% XRP 1.08 ▼ 0.52% BNB 591.04 ▲ 0.59% ADA 0.19 ▲ 2.24% DOGE 0.07 ▼ 0.64% AVAX 6.57 ▲ 0.47% LINK 8.23 ▼ 1.66% DOT 0.82 ▲ 3.25% LTC 44.29 ▼ 0.77% BCH 213.67 ▲ 0.54% TRX 0.33 ▲ 0.70% XLM 0.17 ▼ 1.21% HBAR 0.07 ▲ 0.61% NEAR 1.74 ▲ 1.37% ATOM 1.37 ▲ 8.08% AAVE 92.83 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Brazil Politics - Brazil

Brazil’s Welfare Reform Would Get 42 out of 49 Senate Votes Needed for Approval

By · July 16, 2019 · 3 min read

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RIO DE JANEIRO, BRAZIL – The all-important Social Welfare reform still needs to go through a second round of voting in the Chamber of Deputies, but the majority of legislators in the Senate are in favor of the proposal changing the rules for retirement in Brazil. The Welfare Score, drawn up by Estado newspaper, shows 42 “yes” votes, even before the text reached the Upper House.

The Federal Senate of Brazil.
The Federal Senate of Brazil. (Photo internet reproduction)
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The number represents more than half of the senators, but it is still seven votes below the 60% minimum — 49 Senators — required for the approval of an amendment to the Constitution (PEC).

Estado interviewed legislators last week when the lower house was still analyzing the so-called highlights (suggestions for changes to the primary text). Of the total, fifteen senators asked to speak only when the text reached the Senate, and eleven said they were against the Social Welfare reform the way it was passed in the Chamber. Seven could not be reached, one was undecided, and four did not wish to answer.

Among the 42 senators who expressed their support for the text, including states and municipalities in the new rules is a common argument. As the text stands, the reform sets a new minimum age for retirement — 65 for men and 62 for women — which will be effective for those entering the labor market.

The new age will apply both to private sector workers and federal public servants. However, after amendments in the Chamber of Deputies, the state and municipal civil service was left out.

Parallel Proposed Amendment to the Constitution

If the senators alter the text, the proposal needs to be returned to the Chamber — which would disrupt the government’s desire to enact it during Homeland Week, in early September. To prevent the delay, an agreement is being drawn up so that the inclusion of states and municipalities and any subsequent changes may be introduced through a parallel proposal, which would then return to lower house scrutiny after being voted on by the senators.

Davi Alcolumbre, president of the Senate.
Davi Alcolumbre, president of the Senate. (Photo internet reproduction)

Senator Tasso Jereissati, nominated as rapporteur of the reform in the Constitution and Justice Committee (CCJ) of the Senate, says that the parallel PEC would be a way to meet the desire of the majority of senators for the inclusion of states and municipalities in the reform. According to him, the president of the Senate, Davi Alcolumbre, is in favor of the concept.

Jereissati is rapporteur of a committee set up in the Senate to monitor the reform process in the Chamber. Last week, while the deputies were discussing the proposal, the group met with governors to discuss changes in retirement rules.

For the leader of the PSL in the Senate, Major Olmpio, it is “absurd” that states and municipalities are not included in the text. “This way, Brazil will continue to clean the floor with the tap running,” he says.

For the leader of the PP Party (Partido Progressista) in the Senate, Espiridão Amin, there are only two options: to include states and municipalities directly, or to allow accession by statutes which governors and mayors would propose to municipal and state legislative assemblies. The second option could gain more acceptance, says the president of CCJ in the Senate, Simone Tebet.

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