France’s New Popular Front (NFP) is pushing an extreme tax hike after winning snap legislative elections. The far-left bloc wants to impose a 90 percent tax rate on annual income over €400,000 (~$430,000).
This radical proposal sets the stage for a clash with President Emmanuel Macron. Despite his Ensemble bloc falling to second place in the National Assembly and third by share of the popular vote, Macron wants to install a prime minister of his choosing.
Macron called the snap elections in response to Marine Le Pen‘s National Rally winning the European elections. The National Rally won again in the first round, but the NFP and the Macronists formed an electoral pact to push Le Pen’s party into third place in the second round despite the fact that they won the popular vote by a wide margin.
The NFP, an alliance of Jean-Luc Melenchon’s France Unbowed Party with the Socialists, Communists, Greens, and others, is now the largest force in the National Assembly. Alongside the 90 percent tax rate, their government program includes lowering the retirement age, increased by Macron, from 64 to 60, capping prices on certain goods, raising the minimum wage by 14 percent, and pledging at least €150 billion in spending over three years.
Macron’s prime minister, Gabriel Attal, has tendered his resignation, but the president is keeping him in place until at least the end of the Paris Olympics, irking the NFP.
Reports suggest that Macron hopes to form a “rainbow coalition” comprised of the Macronist bloc and NFP parties other than Melenchon’s France Unbowed, which would foster incredible tensions, considering that Melenchon is the NFP’s leading figure.
Raheem Kassam, Editor-in-Chief of The National Pulse, argues conflicts between the far-left and Macronists could result in fresh elections being called once a mandatory cooling period expires.
— Jack Montgomery (@JackBMontgomery) July 8, 2024