A minor presidential candidate in Brazil has formally proposed the reintroduction of the country’s highly controversial financial transaction tax, known by its Portuguese acronym **CPMF** (Contribuição Provisória sobre Movimentação Financeira), injecting a low-probability, high-impact policy risk into the current **Brazil election** debate. The proposal calls for a new tax on bank transactions, effectively reviving the levy that was a fixture of Brazilian fiscal policy for over a decade before Congress allowed it to expire in 2007. The initial proposal suggests a tax rate similar to the original CPMF, which reached an aliquot of 0.38% on the value of virtually every debit on a bank account.