Brazil Senate committee approves 20-year spending cap

The Senate constitutional affairs committee voted 19-7 on Wednesday to approve the principle textual content of a 20-year ceiling on federal spending proposed by President Michel Temer to scale back Brazil’s widening price range deficit.
The constitutional modification, which limits the expansion of presidency spending to the earlier yr’s price of inflation, will face two rounds of voting within the full chamber on Nov. 29 and Dec. 13. Some minor modifications to the textual content nonetheless must be handed by the committee.