Italian Premier Matteo Renzi is promising payroll tax cuts as part of his government's first economic reform package.

Renzi says he has 20 billion euros ($28 billion) to cover the cuts, and is pledging to Italian workers that by the end of April their income will be higher as a result. Italian media estimates range from 80 euros to 100 euros ($111 to $139) a month.

Renzi is trying to revive the economy while helping ordinary Italians who bore the brunt of the austerity measures passed by previous governments.

His Cabinet meets later Wednesday to approve the measures.

Renzi won his first major parliamentary battle earlier in the day, when the lower house passed a controversial new electoral law that aims to create political stability by producing a clear winner.