The examination of the 2024 budget is proving difficult for the Renaissance group in committee at the Assembly, like the adoption of a MoDem amendment on Thursday to tax more share buybacks of large companies, dividing the majority.
The votes in the Finance Committee have an especially symbolic value since it is the initial text of the finance bill (PLF) which will be debated from Tuesday in the Chamber.
But the disappointments of the Macronists in committee could encourage the government to trigger the constitutional weapon of 49.3 more quickly than expected, in order to have the text adopted without a vote, excluding the amendments of its choice.
We already have around ten palms (defeated) in committee. Pragmatically, this would push for a faster 49.3, agrees a Macronist parliamentary source, in an Assembly without an absolute majority.
On Thursday, the adoption of a MoDem amendment divided the majority. After pushing in vain to tax superdividends more during the previous budget, the centrist group is calling this year for greater taxation of buybacks by large companies of their own shares.
The MoDem notes that these operations have increased considerably and largely serve short-term objectives: knowing how to remunerate shareholders in addition to the payment of dividends, support the stock market price or even increase earnings per share.
This would concern large listed companies generating a billion euros in turnover, underlined the head of MoDem deputies Jean-Paul Mattei, member of the presidential majority.
The general budget rapporteur Jean-Ren Cazeneuve (Renaissance) opposed it, stressing that the buyback of shares is not a reprehensible practice.
What is important to us is the sharing of value within the company. I hope that the government will come to the Chamber with a proposal for limited taxation on companies that do not do this sharing of value, he said.
Insoumis Eric Coquerel, president of the Finance Commission, criticized the government for trying to reduce the proposals of parliamentarians to nothing.
The amendment was supported by all oppositions.
On Wednesday, the presidential camp suffered another failure with the adoption of a PS amendment on nursing home accommodation, aimed at transforming a tax reduction into a tax credit, accessible to the most modest. The subject had already been discussed in the Assembly last year, but the government did not retain the amendment by resorting to 49.3