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Reuters
Reuters
Business

Brazil's Senate approves bill raising 2023-24 spending cap, sends to lower house

FILE PHOTO: Brazilian President-elect Luiz Inacio Lula da Silva attends a news conference at the transition government building in Brasilia, Brazil December 2, 2022. REUTERS/Adriano Machado/File Photo/File Photo

Brazil's Senate approved on Wednesday a constitutional amendment to increase the government spending cap, allowing the incoming administration of President-elect Luiz Inacio Lula da Silva to fund an extension of social welfare payments for poor families.

The bill, which was passed with 64 votes for and 13 against and applies to 2023 and 2024 spending, must now be approved by the country's lower house.

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