Minister Fernando Haddad has stepped down from his role at the Ministry of Finance to run for the governorship of São Paulo. This transition serves as an optimal moment to reflect on his nearly three years of work in the ministry, where he played a pivotal role in shaping the agenda for President Lula's third term. Haddad successfully convinced Lula of his importance in this position and managed to negotiate significant reforms within the National Congress, illustrating his influence and strategic capabilities in Brazilian politics.

During his tenure, Haddad's agenda consisted of three main components aimed at transforming fiscal policy in Brazil. The first was to propose an alternative fiscal rule to replace the spending ceiling that was essentially rendered ineffective after the constitutional transition amendment. Secondly, he worked on advancing a tax reform focused specifically on indirect taxes, which is a complex aspect of Brazil's tax system that has long been criticized for its inefficiency. Finally, Haddad aimed to introduce a series of tax measures designed to combat tax evasion, promote tax justice, and address ongoing disputes between the Federal Revenue Service and the private sector.

Haddad's proposed fiscal framework is noteworthy for its design, which interweaves elements of the previous spending cap with new targets for primary surplus, aiming for a balanced yet flexible approach to public spending. However, critics highlight inconsistencies within this framework, particularly concerning the real value adjustments of the minimum wage and the constitutional parameters governing these economic decisions. As Haddad moves forward in his political career, the implications of his tenure and the policies he championed will likely continue to influence both the financial landscape and the political dialogue in Brazil.