December 14, 2016 1:23 AM

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Brazil's Senate approves 20-year govt spending freeze

Brazil's Senate today approved a 20-year government spending freeze billed as the centerpiece of austerity reforms aimed at restoring economic health of the country. Brazil's Senate today approved a 20-year government spending freeze billed as the centerpiece of austerity reforms aimed at restoring economic health of the country. <br/><br/>The upper house voted 53 to 16 to lock in the spending ceiling. Center-right President Michel Temer said tough measures are needed to get Brazil's finances back under control, but his austerity policies have prompted violent protests.<br/><br/>The vote means that the spending cap is now mandated by the constitution, serving as the central plank in Temer's bid to "transform" the broken economy, which is in deep recession.<br/>

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