CPMF: best solution to produce tax revenue, says Rousseff in Congress

President Dilma Rousseff defended today (Feb. 2), in Congress plenary session, the approval of the new CPMF tax (Temporary Contributrion on Financial Transactions). While addresing the legislature by listing the government's priorities at this year's opening ceremony, she defended the CPMF tax as a proposed amendment to the Constitution. At this moment, part of the lawmakers booed her to protest against the measure, while others, however, defended her with applause.

According to the president, the CPMF  tax is the "best short-term solution available to produce tax revenue." She pointed out that the proposal will be discussed "as needed" and called on deputies to approve this and other measures.

"On Brazil's behalf, we must acknowledge that, to ensure short-term fiscal stability, the success of these measures is essential. The CPMF tax is the necessary bridge between the short-term urgency and the medium-term need of fiscal stability,” she reported.

While she was reading the message about bringing back the old tax, the president was interrupted three times by parliamentarians' protests and it was necessary to switch on a siren asking for silence in the House.

"I know that many [of you] have doubts about it and even oppose such measures, especially the CPMF tax, and offer arguments for it. But I ask you to treat this moment as an exception," stated Rousseff. Last week, in her address at the meeting of the Council for Economic and Social Development, the President had mentioned that the moment is an “exception” and “expressly”  request support for the tax.

About the fight against Zika virus, Rousseff mentioned the actions carried out by the Brazilian government. There is one in partnership with the United States to develop a vaccine against the virus among them. While she was considering the situation an emergency, and ensuring that it would not lack resources to address the problem, she looked in the direction of a deputy exhibiting a poster to protest against the tax. "My entire government is committed to deal with this emergency. We will not lack resources, and I'm sure that Congress will be reasonable enough. We will not lack resources to contain the Zika virus outbreak, and to effectively and adequately counteract its effects on our people," she declared.

*With additional reporting by Luciano Nacimento, Mariana Jungmann and Iolando Lourenço.

Translated by Amarílis Anchieta