French National Assembly Rejects Heavily Amended 2025 Budget

The proposed budget, reworked by opposition parties, failed to pass, pushing the government to seek a compromise in the Senate.

• The National Assembly voted 362-192 against the budget, which included extensive amendments by left-wing parties.
• Prime Minister Michel Barnier's government now plans to submit a revised budget to the Senate for further negotiation.
• The rejected budget proposed significant tax increases, including on wealth and multinational corporations, which were opposed by the far-right and centrist parties.
• The failure to pass the budget prevents any debate on spending, marking a first in the history of the Fifth Republic.
• The government's initial budget proposal aimed at reducing France's deficit is likely to be reintroduced in the Senate.

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