Brazil Legislators Finally Gather Pace in Pension Reform Push
After weeks of delays, Brazil’s lower house of Congress is on a roll, pushing ahead the government’s key pension reform by creating a long-awaited committee only days after declaring the bill was constitutional.
Center-right PR party deputy Marcelo Ramos will head a lower house special committee that will debate potential changes to the bill. Committee discussions will take place between May and June, lower house Speaker Rodrigo Maia said on Thursday.
The special committee represents the second step of a tumultuous debate process consisting of a total of seven votes required for the reform’s final approval. Lawmakers’ quick action represents a turn-around from weeks of bickering and delays that put the bill behind schedule and sent jitters through local markets. Both investors and government officials have deemed the reform as essential to cutting debt and jump-starting Latin America’s largest economy.
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