$Nu Holdings Ltd.(NU)$  The proposed income tax reform in Brazil, which aims to exempt individuals earning up to BRL 5,000 monthly, is likely to boost consumer spending among Nubank’s target consumers, who often fall within this income bracket. This reform is designed to alleviate the tax burden on lower-income citizens, potentially increasing disposable income and stimulating consumption. Additionally, the broader consumption tax reform seeks to simplify the tax structure and reduce costs for consumers, further supporting increased spending in the economy.