Brazil Congress Upholds Majority of Rousseff's Budget Vetoes
- Key veto sustained that blocks people from retiring younger
- Real jumps for first time in five days on Rousseff's victory
Brazil Real Drops to Record Low
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Brazil’s Congress upheld the majority of presidential vetoes aimed at blocking spending increases, including a key measure that prevents people from receiving higher pension payouts at a younger age.
Legislators sustained all but six of the 32 vetoes under consideration before voting was suspended, leaving for the next session some of the most controversial decisions, including one that blocks pay hikes for judiciary workers. Congressional President Renan Calheiros stopped the session at 2:21 a.m. local time on Wednesday after more than five hours of deliberations, saying there weren’t enough lower house members on the floor to continue.