Bundesrat approves Growth Opportunities Act
Updated: 03/22/2024 10:27 AM
The Bundesrat has approved the Growth Opportunities Act. The measures aim to provide tax relief for companies, among other things. The Union and traffic light coalition had long been in dispute over the law.
The Bundesrat has approved the so-called Growth Opportunities Act, which the federal government intends to use to enable tax relief and reduction of bureaucracy for companies. In total, relief measures totaling 32 billion euros are to be implemented.
Originally, the traffic light coalition had planned with a total volume of around seven billion euros. However, the version of the law presented by the federal government met with strong opposition, especially from the Union parties, on the grounds that the federal government wanted to finance about a third of the costs from the package by abolishing tax breaks for agricultural diesel. After negotiations in a mediation committee, the conflicting parties agreed on a watered-down version of the law.
