An Italian centrist opposition party led by former Prime Minister Matteo Renzi said on Wednesday it would appeal to the constitutional court to rule unlawful the government's decision to raise the 2024 budget deficit. The Treasury's fiscal framework presented last month hiked next year's deficit goal to 4.3% of gross domestic product (GDP) from a previous 3.7%, and targeted its return below the European Union's 3% ceiling only in 2026, with virtually no debt reduction over the same period. Luigi Marattin, an economist and lawmaker with Renzi's Italia Viva party, told parliament the plan flouted the constitutional requirement that Italy run a balanced budget unless there are exceptional circumstances.
trivial. the penn wharton computer budget model found this policy change will reduce long run capital stock by 7.9%. assuming the bill s temporary provisions are extended that would imply that long run potential g.d.p. would be 2.5 points lower under build back better. for a lot of businesses, that s scary, congressman. i respectfully disagree with the analysis. the problem in this country was not been investment and capital. the markets has been huge. appreciate. the problem has been the working class. i guess my interest is henning the working class. that s what this is going to do. reduce costs for them. reduce costs on child care reduce cost for kid s preschool. provide them with a tax cut. the philosophical difference is do you want to help the capital owners or help the workers build back better working class? bret: from a progressive caucus point of view, do you
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