Germany Approves Family Tax Cuts and Top Earner Tax
Germany approved tax cuts worth ten billion euros aimed at families and low-income households. The measures will take full effect by 2028 and be partially funded by higher taxes on top earners, drawing criticism from business groups.
Germany approved €10 billion ($11.6 billion) in family tax cuts on Wednesday afternoon, funded partly by higher levies on top earners. The phased reform aims to boost disposable incomes for low- and middle-income households by 2028. The package highlights fiscal balancing efforts as Berlin navigates slowing economic growth.
