One of the interesting things about Italian fascism compared to German Nazism. is that the latter was largely based around defence of an existing race, whilst the former talked endlessly of the construction of a new race on the ruins of bourgeois society. And that race was very definitely white and very definitely not Jewish (see the harsh penalties for sexual contact with colonials -1-5 years minimim, even in Italy - for how concerned with the racial purity of this new race the Fascists were) There was of course backwards glance to Rome as well, but that really was a central motivating factor only in the early days.
In the immediate decades after WW2 the historical consensus was established by the work of Renzo de Felice (primarily) and Meir Michaelis. It went along the lines that Italian Fascism wasn't racist or anti-Semitic, legislation passed in 1938 and after didn't reflect public opinion, it only reflected Mussolini's opportunist foreign policy, the normal person neither supported nor acted in line with this official discrimination, during the war the Italian people and state protected the Jewish population as far as possible, until the German invasion, then they hindered and sabotaged the Germans plans to deport the Jews. That was the story and one of the founding myths of the republic.
The generation after this successfully challenged this consensus though and here's currently a massive ongoing debate on just this issue in Italy right now with revisionist studies arguing that the previously generally accepted consensus of a non-racist, non-anti-Semitic fascism is just a face-saving myth put about by the Italian establishment. (It's almost the reverse of the German debates where opposition and resistance found a new centrality after decades of the crudest sort of collective guilt type history.)
For example, studies detailing unforced Italian participation in the transports to the death camps began to appear (Fargaino estimated that 27% of the total transportation involved Italians alone, and 4% Germans and Italians), and the resistance to Jewish transportations has been explained as being a fortunate side result of the bureaucratic chaos following the fall of Mussolini, rather than a deliberate response - they resumed as soon as local authority was re-established.
There have also been extensive investigations of the pre-war public institutions that suggest they were rife with anti-Semitism (only two people in 150 state bodies resigned their posts and refused to comply with the discriminatory legislation passed in 1938). Anti-Semitism within the fascist movement has been pushed back further and further to well before the 1938 opportunism - although clearly not on the same level as in Germany - for instance The Italian fascists still had a Jewish fascist weekly newspaper in 1934, but were even at that early date isolated and forced to engage in constant self-defence against attacks on them from within their own movement.
Mussolini wasn’t personally anti-Semitic and his polices towards the Jews were purely opportunistic, welcoming their support and money in the early days and discarding them when it became expedient to do so. His "three punches to the stomach of the bourgeoisie" campaign served notice that he was going to sell them down the river, because he simply wasn't politically committed to the defence of them, or of any group that didn't constitute the new future race, a race that it goes without saying, would be white. In fascist imagery the Jew then became the exemplar of the bourgeois society that had to be destroyed so this great white rae could be born - they were portrayed as beneficiaries and moving spirits of all that the new state and the new race was to be built against.