Given the fiscal package that the Government managed to carry out – not without effort and concessions – the People’s Party (PP) has chosen, in the Senate, the path of partial amendment instead of veto. Thus, the popular They announced this Wednesday a series of changes in the norm, which will come forward in the Upper House and will force the Executive to reopen negotiations in Congress. Among other issues, the PP, which is not completely opposed to the bank tax, proposes reduce tax pressure to those banks that carry out actions to facilitate young people’s access to housing.
Like any law, once it is approved in the Lower House, it has to pass the Senate, which can amend it or veto it. In this case, the PP will amend it. Anyway, It is Congress that has the last word on any modification that is introduced in the Upper House, in which the PP has an absolute majority.
Usually, the investiture bloc rejects all changes that come to Congress from the Senate. In this case, however, the PP has designed a series of amendments that could be capable of seducing Together for Catalonia and Basque Nationalist Party (PNV), the two most right-wing allies of the Government. This is how he explained it Juan Bravodeputy secretary of Economy of the PP, in an appearance in the Senate with the spokesperson popular in the House, Alicia Garcia.
The amendment that has to do with the reduction of bank tax for those banking entities that help young people contemplates less pressure for the banks that build new properties or directly offer help on mortgages. They also want the popular that greater tax benefits be granted to people affected by DANA.
Bravo has slipped in his appearance that the PP seeks to give a “redistributive effect” to the banking tax. A day before, Feijóo had described the tax reform as a “tax hack“from the Government.
Other amendments
In addition to the tax exemptions for citizens and companies affected by DANA and the modification of the banking tax, the PP also wants the corporate tax reduction for SMEs that Junts introduced in the package have their full effect in 2025 and not over three exercises.
This is a series of changes that will clearly be consolidated in the plenary session that will take place on December 18 in the Upper House. Then, they will go to Congress, where they will vote on whether or not they will be definitively added to the fiscal package that cost the Government so much sweat.
It remains to be seen, in any case, how the Executive receives the news, although it is evident that, if approved, the changes would entail lower collection by the Treasury, which would have a direct impact on the Budgets. Predictably, yes, the PSOE will have to dust off the negotiation tableespecially, to be interested in how Junts and PNV view the PP proposals. At the same time, it is not unreasonable to think that the rest of the allies They won’t want to be left out. of a new tax negotiation.
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