Brazil's Senate approves base text for bill on tax cap in effort to tame fuel prices

Brazil's Senate approved on Monday the main text of a bill that caps a state goods tax (ICMS) on fuel, electric energy, natural gas, communications and public transportation, a measure intended to fight persistent high inflation in the country.

The bill establishes a ceiling of around 17% on such goods and services by including them in a list of "essential" sectors.

The proposal can still be altered by amendments to be voted.