The National Assembly rejected the Zucman tax on high patrimonies on Friday by 172 votes in favor and 228 against, at the heart of debates on the 2026 budget. Shortly after, deputies approved an amendment transforming the real estate wealth tax into an 'unproductive wealth tax,' carried by MoDem and sub-amended by socialists. This decision, supported by an unexpected alliance between PS, RN, and centrists, marks a symbolic victory for the left and far-right opposition.
Debates in the National Assembly, under high tension on Friday, October 31, 2025, culminated in the rejection of the Zucman tax, a measure defended by the left aiming to tax patrimonies over 100 million euros at 2%. 'There is no miracle tax,' declared Prime Minister Sébastien Lecornu, in 'profound disagreement' with the left, noting that the tax was unconstitutional according to the Council of State. Gabriel Zucman, the economist behind the proposal, remained confident: 'I am not disappointed, because it will see the light of day.'
Shortly after, at 22:50, deputies adopted the amendment by Jean-Paul Matteï (MoDem), modified by Philippe Brun (PS), replacing the IFI with an 'unproductive wealth tax' including financial assets and excluding the main residence up to 1 million euros. The vote, 163 in favor against 150, united PS, RN, MoDem, and LIOT against LFI and Renaissance. Olivier Faure (PS) hailed a 'new ISF adopted,' while Manuel Bompard (LFI) denounced an 'alliance between the Socialist Party and the National Rally' to exempt Marine Le Pen's castle.
In committee, deputies approved the suspension of the pension reform (22 for, 12 against) and rejected the social security budget. Lecornu announced the abandonment of the freeze on pensions and social minima, advocating a 'change of method' with meetings between ministers and political groups, rejected by LFI. Mathilde Panot (LFI) called for censuring the government and Emmanuel Macron's departure. These votes highlight the fragility of the majority and tensions over fiscal justice.
