PS proposes replacement text to reconcile various IRS cut proposals

This Thursday, the PS sent a replacement text to the PSD, BE and PCP, which aims to harmonize the various IRS projects discussed in the specialty, taking into account that it is possible to “ensure a broad consensus” to approve the measure.

“As the Committee on Budget, Finance and Public Administration is discussing a number of initiatives in a specialized area, in the spirit of the vote declaration we have submitted and the line we are advocating for reducing the IRS, the PS parliamentary group considers it useful to make a proposal to all parliamentary groups agreeing on the various projects under consideration (even those that were not voted on in plenary session, as in the case of the government bill),” can be read in the information for parliamentary groups, to which the Lusa agency had access.

The draft replacement text was sent by the Socialists to the coordinators of the SDP, BU and PKP in the Committee on Budget, Finance and Public Administration.

According to the Socialists, “this PS proposal for a replacement text represents an important basis for bringing together different positions and can provide a broad consensus for the approval of the measure, which should enter into force on July 1, 2024.”

According to the PS, its proposal guarantees, among other things, the preservation of the budgetary margin determined by the government.

“Profits are guaranteed for all income categories,” adds PS, with “large increases for incomes up to 2,400 euros, with particular emphasis on incomes between 1,000 and 1,800 euros, which have an increase of more than double the government offer.” “.

“If there is no increase in taxes for any income group, consecrate the 10th IRS group by including the current additional solidarity tax and therefore repealing it in the IRS Code, in accordance with the proposal of the PCP group of parliamentarians,” the party also states.

The Socialists also want a “structural definition” of the rule for regularly updating specific deductions as the Social Security Index increases, as well as giving “the government discretion to determine in the coming months the size of the increase in the specific deduction as early as January 1, 2025.”

Taking into account the BE proposal, the PS also wants to recommend that the Government include an extension to the deduction of interest payments on home loans as part of the review of housing support legislation.

“A structural introduction into the IRS Code of the principle of annual updating of IRS levels depending on the level of inflation in accordance with the electoral projects and programs of the various parties holding seats in Parliament,” they further defend.

This text will replace the government’s proposed legislation, as well as PS, Chega, IL, BE and PCP’s own bills.

On April 24, Parliament as a whole approved without a vote the PS, BE, and PCP IRS proposals, as well as the government’s requests, Chega’s, and IL’s proposals to downgrade the specialty to specialty.