The lower house of Brazil’s Congress voted on Wednesday to expand income tax exemptions for the middle class, despite opposition from investors. The bill, which awaits Senate approval, would exempt about 16 million Brazilians from paying income tax, according to government estimates. The text broadens eligibility for tax exemption for Brazilians making up to 5,000 reais ($940) a month, up from the current cut-off of 3,000 reais. The bill proposes a tax increase for high-earning individuals to offset the loss in government revenues. Anyone making more than 50,000 reais a month currently pays an average of 2.5 percent income tax.