Bundestag decides on stimulus package

Queuing in front of a shop, about dts
Queuing in front of a shop, about dts
The Bundestag launched the economic stimulus package on Monday, which is intended to cushion the consequences of the corona pandemic.

The second Corona Tax Assistance Act was adopted at noon in a special session of Parliament with the votes of the Union and SPD against the votes of the factions of the AfD and FDP, with the Left Party and Greens abstaining. The measures adopted include, among other things, a half-year reduction in value added tax from 19 to 16 or from seven to five percent, a child bonus, a higher amount of relief for single parents and relief for depreciation.

The aim of the economic stimulus package is to boost consumption and the economy in the corona crisis. After the Bundestag, the Federal Council will also deal with the package of measures in a special session on Monday afternoon. The special meetings had become necessary because the VAT cut should come into force on July 1st.

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