The next budget is partly already written. The key intervention on which the majority’s efforts will focus is in fact the already announced cut in Irpef for the middle range, a measure which, if approved, would guarantee a tax benefit of up to 1,000 euros for incomes starting from 50 thousand euros. We have explained the mechanism and effects of the tax cut here.
The proposal to reduce tax on thirteenths
But each maneuver also brings with it measures that are so to speak “lateral” and less expensive for the state coffers. These include the tax relief on thirteenth wages, a proposal already aired in the past and now relaunched by the president of the Finance Commission of the Chamber, Marco Osnato who has hypothesized “replacing the ordinary Irpef with a tax of 15% or 10%”, but only for incomes up to 15 thousand euros.
What would be the tax advantage? Let’s do the math
According to Osnato, the cut “would produce a net saving on the paycheck of between 200 and 500 euros, depending on income”. However, if the income range is as indicated, the net benefit should be lower. Assuming an income of 15 thousand euros gross, according to our calculations, cutting the rate from 23% to 10% would produce an advantage of approximately 135 euros net, also considering the deductibility of social security contributions. With a reduction in the rate to 15% the actual profit would instead be 84 euros. With a salary of 12 thousand euros gross, the “bonus” on the paycheck would instead be 67.06 euros with the Irpef at 15% and around 109 with the rate at 10%.
In short, a small bonus could soon arrive in the paycheck for low-income workers. In any case, the government could also make other assessments on the income brackets affected by the measure, so much so that Osnato himself, speaking of a bonus of 200 to 500 euros, seems to suggest the possibility of including higher incomes.
The bonus for working mothers and other measures in progress
Among other interventions in the pipeline, resources permitting, the government is also aiming to strengthen the 60 euro per month bonus for working mothers with two children and an income of up to 40 thousand euros per year. The maneuver should also include the extension of the decontribution for the stable hiring of young people and women, in the SEZ and to stabilize temporary workers. The majority is also preparing to confirm the tax cuts on night and overtime and the 5% tax relief on contract renewals.