Overview

• The Senate vote fell 188 against to 129 in favour, with its right-centrist majority backing the government’s view that the measure was confiscatory.
• The proposal would have imposed a 2% floor on fortunes above €100 million, affecting about 1,800 households and raising an estimated €15–20 billion annually.
• Opponents warned it could trigger fiscal exile, damage France’s investment appeal and raise constitutional issues, leading ministers to seek milder anti-avoidance tools.
• Proponents argued the levy is the most efficient way to restore tax equality and channel revenue into public services and ecological initiatives.
• Ecologist senators, NGOs and a coalition of mayors plan to sustain pressure by reviving the proposal in 2026, backed by a five-year post-departure tax to deter exodus.