Why Brazil’s Middle Class Is Turning Against Lula

Why Brazil’s Middle Class Is Turning Against Lula

Brazil’s middle class abandons President Lula as his policies pile costs on them, government statements confirm. In May 2025, Lula raises the IOF tax on international card purchases from 3.38% to 3.5%, generating R$20.5 billion ($3.6 billion). This hits travelers and online shoppers, shrinking budgets. Electricity bills rise 1.4% to fund the Tarifa Social, freeing […]

Parliamentarians of the opposition are working to keep pressure on the government due to the increase in the tax rates on Financial Operations (IOF). The measure was announced in the last Thursday (24) and generated immediate market criticism. The Ministry of Fazenda therefore cancelled the increase in the tax for national funds investments abroad. The next day, Minister Fernando Haddad called for a collective call for clarification. Hours later…

Parliamentarians of the opposition launched an offensive against the Lula government to limit the increase in the Tax on Financial Operations (IOF), announced this week by the Ministry of the Fazenda. Projects presented in the House and in the Senate require the annulment of the orders they raised on international transactions. In the Senate, the opposition leader, Rogério Marinho (PL-RN),... The post Opposition reacts and tries to break the law…

Two proposals were made, one in the Senate and the other in the Chamber, following the decree of the last Thursday Members and Opposite Senators launched a new offensive against the government in Congress, this time to cancel the effects of the decree which determined an increase in the amount of Tax on Financial Operations (IOF) in the country. The parliamentarians presented two projects, one in the House and the other in the Senate, asking for…