the senators adopt in committee a slightly modified amending budget

The senators, mostly on the right, adopted, on Thursday July 28 in committee, around twenty amendments to the draft amending budget for 2022, the second part of measures to support purchasing power which will arrive on Monday in the hemicycle of the Palais du Luxemburg. The first part, the bill “emergency” for purchasing power, has been under discussion since Thursday morning in this same hemicycle.

The amended draft budget opens up 44 billion euros in credits, including 9.7 billion to finance the 100% renationalization of EDF. The senators adopted in committee twenty-one amendments of the general rapporteur of the budget, Jean-François Husson, according to a press release from the finance committee.

In particular, they want to make permanent the increase to 7,500 euros in the tax exemption ceiling for overtime hours, voted by the National Assembly for 2022. Currently, overtime hours are tax-exempted up to a ceiling of 5,000 euros per year, with a maximum 220 hours worked over a year, excluding branch, company or specific collective agreement.

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Tax on corporate “superprofits” discussed Monday

They replaced the exceptional back-to-school bonus of 100 euros, reserved for social minima, by “an exceptional “boost” increase” of 150 euros to beneficiaries of the activity bonus. The senators have also provided an envelope “exceptional of 40 million euros” for food banks, “subject to significant supply difficulties, particularly in view of inflation”.

The rapporteur has not called into question the discussed abolition of the audiovisual license fee. But the senators limited to December 31, 2024 the allocation of a fraction of the VAT product to ensure the financing of public broadcasting, “this delay leaving time for the implementation of a real reform of the sector”.

They still decided to“improve the device” to support the most financially fragile municipalities. It will remain to address Monday the very delicate question of the possible establishment of a tax on the “superprofits” of large companies.

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Narrowly rejected last weekend by the National Assembly, this “exceptional contribution of solidarity” will be brought to the Senate by the centrist group. Centrist senators will propose to apply to companies whose net profit would have been 20% higher in 2021 than the average for the three years 2017, 2018 and 2019 a contribution of 20% calculated on the difference between the two amounts.

The World with AFP

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