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OCTOBER 2, 2019 / 2:56 PM / A DAY AGO
Brazil's Bolsonaro urges senators to pass pension reform, after amendment rejected
BRASILIA, Oct 2 (Reuters) - Brazilian President Jair Bolsonaro on Wednesday urged senators to approve his government’s pension reform bill, a day after they approved its basic text but rejected an amendment, a move that will reduce expected total savings by 76 billion reais ($18 billion).
The main text passed on Tuesday with a vote of 56 in favor - a comfortable margin above the 49 votes required - with 19 opposed and one abstention, but an amendment that would reduce year-end bonus salary payments to low-paid workers was rejected.
Overhauling the costly social security system is the number one item on Bolsonaro’s economic reform agenda. Senators will resume debate on Wednesday, with the aim of moving it to a second-round and final vote next week.
“Reform is necessary. If it doesn’t come, Brazil will be bankrupt in two years. Sorry, you have to approve it, there’s no alternative,” Bolsonaro said as he left the Alvorada Palace in Brasilia, according to a video posted on the his Facebook page.
“There is no plan B ... other governments have tried to do it, but failed. That’s the reality.”
OCTOBER 2, 2019 / 2:56 PM / A DAY AGO
Brazil's Bolsonaro urges senators to pass pension reform, after amendment rejected
BRASILIA, Oct 2 (Reuters) - Brazilian President Jair Bolsonaro on Wednesday urged senators to approve his government’s pension reform bill, a day after they approved its basic text but rejected an amendment, a move that will reduce expected total savings by 76 billion reais ($18 billion).
The main text passed on Tuesday with a vote of 56 in favor - a comfortable margin above the 49 votes required - with 19 opposed and one abstention, but an amendment that would reduce year-end bonus salary payments to low-paid workers was rejected.
Overhauling the costly social security system is the number one item on Bolsonaro’s economic reform agenda. Senators will resume debate on Wednesday, with the aim of moving it to a second-round and final vote next week.
“Reform is necessary. If it doesn’t come, Brazil will be bankrupt in two years. Sorry, you have to approve it, there’s no alternative,” Bolsonaro said as he left the Alvorada Palace in Brasilia, according to a video posted on the his Facebook page.
“There is no plan B ... other governments have tried to do it, but failed. That’s the reality.”