Amending Finance Law: the Senate definitively adopts the text

Amending Finance Law: the Senate definitively adopts the text

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The last bill of this exceptional parliamentary session was definitively adopted by the Senate on Thursday, August 4. One hour after the adoption by the deputies, the senators were 233 to vote for and 97 against this amending finance law. Therefore, the law is validated.

» Read also: Amending finance law: deputies and senators agree on a common text

Gathered in a joint committee on Wednesday August 3, deputies and senators reached an agreement on the PLFR by agreeing on points such as aid to communities and exceptional back-to-school aid. This Thursday, August 4, the Assembly and then the Senate examined the conclusions of this CMP.

The amending finance law includes the change in funding for public broadcasting. It’s here end of fee and the beginning of the allocation of a fraction of VAT proceeds for the financing of public broadcasting. By a measure introduced by the Senate, this change in financing will not be effective until December 31, 2024, in order to “comply with the requirements of the organic law relating to finance laws and to find the time necessary for the implementation of ‘a real reform of the sector’.

There are also several measures supposed to “restore purchasing power by valuing work” according to the senatorial majority. The senators have perpetuated the increase in tax exemption for overtime up to 7,500 euros, and extended until December 31, 2025 the possibility of monetize its RTTs. Measures that had outraged opposition senators.

Compromise on exceptional back-to-school aid and compensation for communities

Another sticking point: the exceptional back-to-school bonus. Originally intended for recipients of social minima, the Senate had voted to abolish it for the benefit of aid for those entitled to the activity bonus. A compromise was found in CMP in order to keep this exceptional bonus of 100 euros both for recipients of social minima and for beneficiaries of the activity bonus.

Among the great victories of the High Assembly, stand out the compensation allocated to local authorities. The Senate managed to snatch 750 million euros for the communities in order to compensate for the thawing of the index point for civil servants, but also the 4% increase in the RSA and the revaluation of the remuneration paid to trainees in vocational training. By a sub-amendment, the senators decided to broaden the eligibility conditions for this allocation for communities.

» Read also: Amending finance law: the Senate strengthens aid to local authorities

The amending finance law also signs the foundations of the biometric vital card which aims to fight against social fraud, but also the purchase of 16% of EDF shares missing from the State to hold 100% of the company. However, it was the envelope voted in the Senate that prevailed. The senators refused to grant 12.7 billion euros for possible support operations for French strategic companies, while the takeover bid for the purchase of EDF shares was estimated at 9.7 billion. In the same vein, the Luxembourg Palace has also reduced by 1.5 billion euros the allocation for accidental expenses requested by the State.

Rebate at the pump, aid for oil heating and doubling of the “transport bonus”

The rebate at the pump will go well from 18 to 30 cents in September and October, before falling back to 10 cents in November and December. This measure is in addition, according to the Minister of the Economy, to the additional reduction of 20 euro cents promised by the TotalEnergies group. The bill also funds the tariff shield extension until December 31, this device was introduced in the fall of 2021 to cap gas and electricity prices. A aid of 230 million euros for households heating with fuel oil could also pass.

Both Chambers have adopted measures to reduce the costs of employees. The “premium transport” has been doubled to reach 400 euros of possible support by the employer, while the overall ceiling for tax exemption has been raised to 700 euros – including power-related expenses for electric vehicles, hybrid or rechargeable. There is also better support for transport subscriptions, a tax advantage for carpooling and, finally, a 4% increase, from 1 September, of tax and social security exemptions intended for employers financing meal voucherswhich could stimulate an increase in the amount of the amount of these checks.

On the other hand, if the tax on superprofits has imposed itself in the debates, it was not in the text.

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