Romanian Senate OKs social security tax cut, rejects President’s review request

The Romanian Senate adopted on Monday, August 25, in a special meeting, the bill on the reduction by 5% of the social security tax (CAS), thus rejecting the review request sent by President Traian Basescu, reports local Mediafax. The draft law was adopted with 96 votes in favor, only one vote against and two abstentions, and the request for review was dismissed. The Romanian President said earlier this month that “the CAS cut would only accelerate the entry into crisis by increasing the pensions fund deficit” and that the Social Democrat Party PSD, the National Liberal Party PNL and the Liberal Democrat Party PDL “lie Romanians to get their votes”. Irina Popescu, irina.popescu@romania-insider.com