PARIS — France’s National Assembly on Wednesday voted to suspend the controversial 2023 law raising the retirement age from 62 to 64 for most workers until the 2027 presidential election.

The vote passed by a margin of 255 to 146. Its supporters included left-wing lawmakers from the Socialists and the Greens as well as the far-right National Rally. Opponents included MPs from the far-left France Unbowed, right-wing Les Républicains and center-right Horizons. Most lawmakers from the centrist party of French President Emmanuel Macron abstained.

Prime Minister Sébastien Lecornu had proposed the suspension last month as a compromise to ensure his government’s survival. The government expects the measure to cost around €300 million in 2026 and €1.9 billion in 2027, Labor and Solidarity Minister Jean-Pierre Farandou said Wednesday.

France is under pressure to cut its massive debt, and Lecornu has pledged to reduce the country’s budget deficit to no more than 5 percent of gross domestic product next year. While the retirement reform suspension has dialed down the domestic political temperature, it has also sparked concerns that France isn’t serious about getting its public finances in order as more workers retire and people live longer.

The European Commission has called on France to compensate for the fiscal cost of the suspension by taking other steps and ratings agencies have warned of the economic impact of suspending the reform.

Both Standard & Poor’s and Fitch have downgraded France’s credit to the single-A category while last month Moody’s cut its outlook for France from “stable” to “negative,” highlighting the negative economic impact of the freeze and the risk it could last beyond 2027.

The National Assembly, France’s lower house of parliament, has until midnight to pass the entirety of its social security budget, which focuses on welfare spending and includes the pensions reform suspension. The text then heads to the French Senate.

If the National Assembly votes down the social security budget or fails to hold a vote in time, the Senate will debate the original text proposed by the government.

However, the government has already made clear it would amend it to take into account all the changes approved in the National Assembly, including the suspension of the pensions reform.