News Summary: Portugal adopts stiff tax hikes
TAX HIKES: Portugal's Parliament on Tuesday approved unprecedented tax increases despite a broad public outcry and concerns that the latest austerity package will prolong the bailed-out country's recession.
THE VOTE: The center-right coalition government used its parliamentary majority to pass its 2013 budget. All opposition parties voted against the deficit-reduction measures, which will cost most workers the equivalent of at least a month's income next year.
THE DISSENTERS: Trade unions and business leaders complain the spending plan doesn't do enough to revive an economy that's headed into a third straight year of recession. Hundreds protested against the budget outside the parliament building in Lisbon.
