Fiscal drag e riforma dell’IRPEF: quale tutela per i contribuenti? [Fiscal Drag and Personal Income Tax Reform: What Protection for Taxpayers?]

The paper analyzes fiscal drag within the context of the Italian tax system, highlighting its nature as an «invisible tax» that reduces taxpayers’ purchasing power. The analysis focuses on the recent period marked by significant price growth (2019-2025), showing how the in complete adjustment of nominal wages has amplified the negative effects of fiscal drag on real incomes. It also discusses the role of the tax reforms adopted in Italy, which have in practice returned to taxpayers the additional revenue generated by fiscal drag, comparing the Italian case with international experiences, particularly in countries that adopt indexation mechanisms. The paper concludes with a reflection on the desirability of acting separately on two distinct objectives: indexing the tax system to neutralize fiscal drag, and reforming the personal income tax (IRPEF) to reduce the tax burden on labor income.