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Story summary
- The Israeli cabinet is debating the 2026 state budget, due by March 2026 to avoid new elections.
- Finance Minister Bezalel Smotrich aims to reduce living costs, tax banks' excess profits, promote competition, and cut income taxes.
- He criticized banks for high profits during the war.
- Prime Minister Benjamin Netanyahu described the budget as responsible and balanced, noting it totals 760.6 billion shekels ($235 billion) with 90 billion for defense.