Overview

• Employer groups sharpen opposition, with Medef chief Patrick Martin announcing an upcoming mass meeting as CPME and METI warn the plan would be “suicidal” and harmful to mid‑sized firms.
• Bernard Arnault attacked the measure as an assault on France’s economy, drawing a pointed reply from Gabriel Zucman, who cited IPP work to argue billionaires pay little income tax.
• Left‑wing MP François Ruffin urged sanctions for tax exiles, floating loss of civic rights or asset freezes and citing CAE data on marginal emigration, prompting a sharp backlash from the right.
• An independent Conseil d’analyse économique note reports very low emigration among top capital‑income households but warns that only a small share of theoretical receipts may be collectable due to optimization.
• The proposal passed the National Assembly in February but was rejected by the Senate in June; it remains blocked as left parties push to fold it into the 2026 budget, with polling showing 68% support and some in government weighing an ISF revival as an alternative.