The maneuver is law, worth 28 billion: here’s the end of the year bang

Final approval of the budgetary maneuver that passes in the Chamber with 200 yes, 112 no and 3 abstentions. Now it’s law. The maneuver is worth around 24 billion, which rises to 28 with the addition of the first decrees implementing the fiscal delegation, it is financed with an extra deficit of 15.7 billion combined with the increase in tobacco taxes and a review of expenses of ministries and transfers to local authorities. For the coming years, the text also outlines the scenario of a possible rationalization of state shares, from which up to 20 billion could be raised. The most important provision is the extension to 2024 of the reduction in the tax and contribution burden for income up to 35 thousand euros. To counter the wave of inflation, linked to the international situation between the war in Ukraine and the conflict between Israel and Hamas, the government chose the path of temporarily relieving the tax burden on workers with low-middle incomes, leaving around 100 more euros per month on your pay slip. At the same time, the launch of the tax reform reduced the Irpef bands to three. The Bank of Italy estimates an average benefit of 600 euros per family. Among the most significant provisions of the maneuver are the allocation of 3 billion euros to begin renewing public employment contracts, with priority for the health and safety sectors, and the allocation of an additional 3 billion euros to the health fund. The rapporteurs’ amendments also introduced additional funds for military and police salary supplements.

The choice to increase the dry rate for short-term rentals from 21 to 26% with the exception of a home chosen by the owner for those who own several properties has generated debate. There are also several measures to support large families and birth rates, including credit reduction for home purchases and tax reductions for hiring women with several children. Rai’s license fee is reduced from 90 to 70 euros for 2024. 15 million were allocated for the Caivano area and 100 to combat housing difficulties. With the “treasure” of 100 million at the disposal of parliamentarians, the majority increased the fund for Alzheimer’s and dementia by 5 million euros, providing for the placement of new SOS columns in busy places such as stations, parks, sports facilities. Having also won the title of Italian Capital of Contemporary Art, the selected city will be financed annually with 1 million euros for requalification interventions. The opposition chose instead to focus 40 million euros on common amendments, also supported by the majority, for initiatives against violence against women: from freedom incomes to anti-violence centers. There is no room for maneuver for a mini extension of the 110% Superbonus, which instead arrived with an ad hoc decree. The provision, launched by the CDM, protects sworn jobs until December 31st of this year and safeguards less well-off families.

Among the support for vulnerable groups, the maneuver provides for refinancing for 2024 with 600 million euros from the “Dedicated to you” card for the purchase of basic necessities. The social electricity premium remains in force during the first three months of next year. To support the purchase of a home by large families, priorities are introduced in access to credit for families with three children under 21 years of age and an ISEE of no more than 40 thousand euros per year, for those who have four children under 21 years of age and an ISEE not exceeding 45,000, for those who have five or more children and an ISEE not exceeding 50,000. Mortgage guarantees for under-36s have been extended until 2024 to encourage more young people to buy their first home. By the end of next year, companies will have to take out insurance to cover damage caused by natural disasters and catastrophic events. On the social security side, the tax relief for productivity bonuses of 5% and the limit of up to 2,000 euros for additional benefits for workers with dependent children, up to 1,000 euros for all others, are confirmed. Incentives for hiring unemployed women are also planned for 2024. Tax relief is also coming for workers in the night and holiday tourism sector. Companies and productive activities that return to invest in Italy will have preferential taxation: a 50% reduction in income tax. The exemption applies in the tax period in which the transfer occurs and in the following 5 years. For the planning and construction of functional works for the Jubilee of 2025, just under 400 million are allocated between 2024 and 2026.

Source: IL Tempo