France Lower House Rejects Wealth Tax Proposal Sparking Government Tension

France's lower house of parliament rejected a proposed wealth tax aimed at the super-rich, threatening the stability of the government amid ongoing political deadlock and fiscal challenges. The left-wing coalition, including Socialist, Communist, Green parties, and France Unbowed, had proposed a minimum two-percent levy on wealth above 100 million euros, known as the "Zucman tax," but it was voted down 228 to 172. A less stringent "Zucman-light" proposal, calling for a three-percent tax on assets over 10 million euros while excluding family and innovative businesses, was also rejected. Prime Minister Sebastien Lecornu opposed the tax, emphasizing that there is no "miracle tax," while left-wing MPs vowed to continue pushing for tax justice reforms. Lecornu, who survived a confidence vote by suspending unpopular pension reforms, aims to pass a spending bill to address France's deficit and soaring debt, but faces resistance from the Socialists who remain key swing votes in parliament. The political impasse threatens the government's ability to implement necessary budgetary measures.