Federal civil servants can take payroll loans of up to 45% of remuneration. This Wednesday (28), it was published in the Official Diary of the Union The law which allowed for an increase in the payroll loan margin, a loan automatically deducted from the payroll.
The law defines that 5% “will be reserved exclusively for the amortization of expenses incurred by means of a credit card or for use with the purpose of withdrawing by means of a credit card”.
When sanctioning the law, President Jair Bolsonaro vetoed one of the items. The proposal approved by the Legislature defined that the total of the consignments would not exceed 45% of the monthly remuneration, of which 5% would be reserved exclusively for the amortization of expenses incurred through a consigned benefit card or for use with the purpose of withdrawing by benefit payroll card. But the government’s economic area understood that this item would create an additional percentage of payroll loan margin.
“Despite the legislator’s good intentions, the legislative proposal goes against the public interest, since the creation of an exclusive additional percentage for certain types of credit is not recommended, as it would promote distortions in the allocation of credit in the national economy, with the potential to increase the credit cost of operations with free allocation of resources”, says the justification for the veto.
In addition, he adds, “the measure could restrict the decision of those interested in accessing more convenient lines of credit”.
The law is the result of the conversion of a provisional measure into law, passed by the senate on the 29th of November. Prior to approval by Congress, the limit was 35%, with 30% for payroll-deductible loans and 5% for credit cards. The original MP, edited by the government in August, had a margin of 40%, but it was expanded by the Chamber of Deputies and confirmed by the Senate.