In the night of November 21 to 22, 2025, the French National Assembly rejected almost unanimously the first part of the 2026 finance bill, concerning revenues. Only one favorable vote and 84 abstentions were recorded against 404 rejections. The government's initial text will be sent to the Senate without the adopted amendments.
The French National Assembly, more fragmented than ever, found a rare consensus by rejecting almost unanimously the first part of the 2026 finance bill (PLF), focused on revenues. This vote, which took place in the night from Friday 21 to Saturday 22 November 2025, is unprecedented in the history of the Fifth Republic: only one deputy voted in favor, 404 against, and 84 abstained. The entire left, right, and far right voted against, while the MoDem and the majority of Renaissance deputies abstained.
After more than 125 hours of heated debates, particularly on inheritance tax and that of large companies, the text had been deeply reworked. Eric Coquerel, La France insoumise (LFI) deputy from Seine-Saint-Denis and president of the finance committee, had called it in October a 'Frankenstein budget, in the end no one will recognize themselves in it.' This heterogeneous version provided for a significant increase in taxes and levies, raising compulsory levies from 43.6% of GDP – a European record – to 44.9% in 2026, mainly targeting large companies and the very wealthy.
Immediate consequence: the Assembly will not examine the second part of the budget, on expenditures. The government's initial project, as presented by Sébastien Lecornu, goes back to the Senate without incorporating any of the debated amendments. Parliament as a whole has until December 23 to adopt the final text, launching a new race against time in the Senate.
