Italy to Cut Income Tax for Middle Class at Cost of €9 Billion

Italy's government has announced plans to cut income taxes for the middle class as part of its latest budget. The tax cuts, which will cost the government around €9 billion ($10.5 billion) over three years, are aimed at easing the financial burden on middle-income earners. This move fulfills a campaign promise made by Prime Minister Giorgia Meloni and her conservative coalition. The tax cuts are expected to benefit individuals earning between €15,000 and €75,000 per year. The budget also includes other measures, such as increased funding for families and businesses, as well as efforts to address the country's high public debt. However, the tax cuts for the middle class are the centerpiece of the government's economic strategy. While the tax cuts may provide relief for some, concerns have been raised about the impact on the government's overall fiscal position and the potential consequences for public services and infrastructure.