These positions were transmitted to journalists at the Assembly of the Republic by Bernardo Blanco, a deputy and leader of the Liberal Initiative (IL). "For these months, once again, not being the tax reduction we would expect, we will vote in favor of the Government's proposal, because although, I would say, almost very derisory, it is obviously more money in the pockets of the Portuguese, even if it is very little", he declared. For the future, to take effect from the next State Budget, the IL submitted a bill that, according to Bernardo Blanco, corresponds to a reduction in IRS "seriously, unlike the one presented by the Government". The IL wants to reduce the number of levels from nine to two, he added, noting that "all income of all Portuguese up to the national minimum wage is exempt, so the rates only apply above that value". According to the IL's bill, the first bracket will include annual taxable income up to 13,945 euros, subject to a marginal IRS rate of 15%, and in the second bracket, with a rate of 28%, income above that amount. Read Also: IL criticizes "large" cast and welcomes "balance" of politicians and society (Portuguese version)