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Italy's Senate Panel Throws Out 21 Budget Amendments as IRAP Deal Nears

Government negotiators report progress with banks to find resources without raising IRAP by 0.5 points.

Overview

  • The Senate Budget Committee deemed 21 proposals inadmissible, citing four for subject matter and 17 for lacking funding coverage.
  • Blocked measures include the FdI bid to extend Opzione donna, decontributions for permanent hiring in the South, and the Lega’s youth flat tax; a productivity-bonus tax break was also struck.
  • A reworked Lega amendment enabling the sale or cession of Italy’s ESM quota was ruled admissible and remains on the table.
  • The committee set a final 3 p.m. Wednesday deadline for any reformulations, with any later rescue possible only through a government-backed rewrite.
  • Sources report a near-agreement with banks and ongoing talks with insurers to raise roughly €200–250 million, and FdI’s leader in the Senate says the ECB is reviewing the Bankitalia gold-reserves amendment.