What Happened At long last, French President Emmanuel Macron has announced his proposals for economic and institutional reform. On April 25, Macron said he planned to offer 5 billion euros ($5.6 billion) in income tax cuts, link pension hikes to inflation for pensions under 2,000 euros and close loopholes that allow companies to escape taxes. Macron also proposed legislation to make referendums easier to hold, reduce the number of lawmakers in parliament and make France's electoral law more proportional. The announcements came after the end of the Great National Debate , a series of meetings between French government officials and voters across the country, that Macron launched in reaction to the yellow vest protests that began in late 2018. What It Means With the announcements, Macron is seeking to take back control of the agenda after the political crisis generated by the yellow vest protests.