Deputies will not even be able to debate the spending part of the budget. A first in history of the Fifth Republic. On Tuesday afternoon, unsurprisingly, a large majority of them voted against (192 for, 362 against). the first part of the Finance Bill, dedicated to revenues. As a result of this rejection, the text as a whole is directly referred to to the Senatewhich will begin its examination in a fortnight’s time. This result comes as no surprise given the composition of the National Assembly, which is divided into three very distinct blocks.

During the debates in the Palais Bourbon, the government bill had been heavily reworked by the left, which was over-mobilized during the votes, unlike the Macronists and the right. Numerous new taxes, such as those on superprofits, superdividends, share buybacks, multinationals, billionaires’ wealth and “big digital companies”, had been adopted. In addition, a number of key measures from the initial text were dropped, including the increase in the electricity tax, the increase in the car malus and the surtax on large corporations.

The version of the text that emerged from our debates is totally distorted and in no way corresponds to the proposal put forward by Michel Barnier.

Republican Right MP Véronique Louwagie shortly before the vote

A budget “ NFP-compatible “, in the words of the LFI chairman of the Finance Committee, Éric Coquerel, who incidentally pushed the Macronists, Les Républicains and Rassemblement National to vote against, while the Nouveau Front Populaire (NFP) forces all voted in favor. “ The version of the text that emerged from our debates is totally distorted and in no way corresponds to the proposal put forward by Michel Barnier. “In fact, shortly before the vote, Republican Right MP Véronique Louwagie denounced this. “ Which business sector still escapes this tax hell? ? “said Horizons MP Félicie Gérard, while David Amiel lamented “ a huge parliamentary mess “. A true “ museum of tax horrors “said Éric Ciotti (Union des Droites pour la République).

The parliamentary shuttle continues

After examining the text last Friday night, the left was largely congratulating itself on having succeeded in “ rework the budget “says Insoumis Éric Coquerel. “ We’ve found tens of billions in new revenue. That’s very satisfying. This means we can meet the needs of the French and reduce the deficit at the same time. “the Chairman of the Finance Committee was delighted, while the French Budget Minister, Laurent Saint-Martin, denounced “ tax bludgeoning “, regretting a tax increase of 35 billion euros compared to the initial bill.

The text will now continue its journey through the Senate. And, since it has not been adopted, it will probably be largely the government version that will be sent there. Parliamentarians in the upper house will in turn have ample opportunity to amend it. Everything will then be decided by the joint committee, where seven senators and seven deputies will meet to try and reach agreement on the entire text. This is a body where, in most cases, the “common base” has the majority. So, if they agree, they will be able to find a way through the text, before it returns to the Senate and then to the National Assembly for final adoption. It is at this point that Prime Minister Michel Barnier, without an absolute majority in the Palais Bourbon, would have to activate Article 49.3 to force his way through. He would then be at the mercy of a motion of censure that could bring down his government.