Amendments

The package overhauls the pension system, reinstates property taxes on primary residences, raises gasoline levies and seeks to spur economic growth by opening up some professions and offering tax breaks to companies hiring young people and women.Monti agreed to lawmakers’ request to raise the threshold on pensions that will lose cost-of-living increases for the next two years to about 1,400 euros a month, from 936 euros in the original plan. Families paying the new property tax will get a 50-euro credit per child, according to the amendment, and Italians whose checking-account balance averages less than 5,000 euros a year will no longer have to pay a 34-euro annual tax. Cheap Ugg Boots The government will cover the lost revenue by increasing the planned levy on Italians who took advantage of previous amnesties on tax evasion. The amendment also adds a tax surcharge on pensions of more than 200,000 euros a year and imposes a levy on property owned by Italians outside of Italy.Former European Union commissioner Monti, 68, took over last month after Silvio Berlusconi resigned as premier on Nov. 12. Berlusconi’s parliamentary majority had eroded as the country’s 10-year bond yield surged over the 7 percent threshold that prompted Greece, Ireland and Portugal to seek bailouts.