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Italy Considers Tax Cut for Low Earners, La Repubblica Says

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Jan. 28 (Bloomberg) -- Italian Prime Minister Mario Monti’s Cabinet is evaluating a plan to cut taxes for low earners with funds recovered from tax evaders, La Repubblica reported without saying where it got the information.

Monti may finance the reduction of income taxes with as much as 15 billion euros ($19.8 billion) recovered from a crackdown on tax evasion, the Italian paper said.

The government may reduce to 20 percent from 23 percent the income levy on the lowest tax bracket, La Repubblica said.

To contact the reporters on this story: Tommaso Ebhardt in Milan at tebhardt@bloomberg.net

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