"Italy's parliament approved the final 2026 budget on Tuesday, including an income tax cut for around 13.6 million middle-income earners. The tax rate for those earning between 28,001 and 50,000 annually drops from 35 percent to 33 percent from January, news agency Ansa reported. However, the budget also raises the retirement age gradually from 2027, increases taxes on banks and insurance companies, and cuts cinema and culture funding."
""It is a serious and responsible budget, built in a complex context," Meloni said on social media after the vote. "It concentrates the limited resources available on some fundamental priorities: families, work, businesses and healthcare." Economy Minister Giancarlo Giorgetti described the parliamentary process as "tortuous", with weeks of tense negotiations within Meloni's coalition over pensions, and a controversial amendment about Italy's gold reserves."
Italy's parliament approved the 2026 budget, introducing an income tax cut for about 13.6 million middle-income earners by lowering the 28,001–50,000 euro bracket from 35% to 33% from January. The budget raises the retirement age gradually from 2027, increases taxes on banks and insurance companies, and reduces funding for cinema and culture. The government aims to bring the deficit below 3% of GDP next year to meet EU rules a year early. Coalition negotiations were tense, a gold-reserve amendment was reworded after an ECB warning, and several controversial measures were scrapped amid opposition criticism.
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