THE Senate approved, this Wednesday (24)unanimously The base text of the bill that establishes a mechanism to reduce the impact of US tariffs on exporters through new financing lines and other measures. The proposal provides for the removal of these expenses from the federal government spending ceiling.
Senators should also enjoy two amendments to the project, scheduled for voting next week.
The measure was referred by federal government and provides for about R $ 30 billion in tax loans and renunciations To contain the socioeconomic effects of tariffs applied by US President Donald Trump to Brazilian products.
According to the justification of the bill, authored by Senator Jaques Wagner (PT-BA), this taxation reaches 36% of the total value of products exported to the US market by 2024 (US $ 14.5 billion of US $ 40.4 billion) and could “generate losses to productive chain companies in all regions of the country and endanger works of millions of workers”.
By the project, These tax expenses and resignations will not be considered in the targets of primary result provided for in the Fiscal Responsibility Law and within expense limits provided for in the new tax framework.
“Exceptionally, in the financial years of 2025 and 2026, the expenses arising from extraordinary credits and tax waivers for mitigating the social and economic impacts caused by the imposition of additional tariffs on Brazilian exports to the United States of America will not be considered in primary result goals,” says the project.
According to the rapporteur, Venetian Senator Vital do Rego (MDB-PB), The project will assist in the viability of the Provisional Measure (MP) 13/2025, which established the Brazil Sovereign Program. The measure still depends on a vote in the National Congress.
“PLP 168 talks about the tariff imposed by the President of the United States of America, which has very hardly impacted various sectors of our economy and (…) many jobs; impacted the reality of many Brazilian citizens who lost these jobs,” he said.
THE Brazil Sovereign was announced by President Lula on August 13 and the funds will be contributed to the Export Guarantee Fund (CGE) for credit with affordable rates. The priority is for companies that do not have alternatives to export to the United States, according to the relevance of revenues, product type and business size.
Small and medium -sized companies will also be able to resort to guaranteeing funds to receive credit and access to lines will be subject to maintaining the number of jobs.
The proposal also exempts these expenses from some requirements provided for in the Fiscal Responsibility Law, such as the estimated budget-financial impact of the year; demonstration that the resignation was considered in the estimated revenue of the Annual Budget Law (LOA); Compensation measures that generate increase in revenue, provided they do not exceed the limit of R $ 5 billion in the 2025-2026 biennium.
Another point of the project is that the Union is authorized to increase its participation in the Operations Guarantee Fund (FGO) by up to R $ 1 billion; In the Fund Guarantee Fund of Outdoor Credit Operations (FGCE) up to R $ 1.5 billion; and in the fund Guarantee for Investments (FGI) up to R $ 2 billion.
The contributions should finance export support measures affected by tariffs, such as credit operations coverage, risk sharing and operations contracted under the Emergency Credit Access Program (Solidarity Peacfgi).
