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6h ago

National Assembly Rejects 'Zucman' Wealth Tax and Socialist 'Light' Version

Government warnings over likely constitutional censure prompted Socialists to pivot toward alternative revenue plans.

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Ces amendements, souvent portés par le RN ou LFI, ont fait l’objet de débats houleux.
Le Premier ministre Sébastien Lecornu à l'Assemblée nationale, lors des questions au gouvernement, le 28 octobre 2025
Des députés lors du vote de dispositions du budget 2026, à l’Assemblée nationale, le 29 octobre.

Overview

  • Deputies voted 228-172 against the original levy on fortunes above €100 million and 228-171 against the PS compromise after a lengthy session attended by Prime Minister Sébastien Lecornu.
  • Budget minister Amélie de Montchalin argued the measures would be struck down by the Constitutional Council, referencing a Council of State opinion that deemed the lighter proposal unconstitutional.
  • Socialist leaders said they will pursue substitute ways to raise billions from the ultra‑wealthy, citing a possible return of the ISF or changes to the Dutreil regime, and maintained the option of censure.
  • The budget timetable slipped roughly ten days, with the receipts vote now expected in mid‑November as work continues on Social Security financing and revenue measures.
  • RN and LR opposed the tax and the center bloc would not back it, and Lecornu rejected the idea of a high‑yield "miracle tax" as he indicated support for unfreezing pensions and minimum benefits in 2026.