Romania's Senate to debate law on social security tax cut in special meeting

The Romanian Senate will gather today, August 18, in a special meeting to debate the law on the reduction by 5 percent of the social security tax (CAS) from October 1, reports local Mediafax. The law was sent back for review by President Traian Basescu. The Romanian President said last week 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”. In July this year, the President also said that he will not promulgate the law to reduce the social security tax CAS until he is convinced that the measure is economically sustainable. Irina Popescu, irina.popescu@romania-insider.com