The legislation includes a 500-billion fund for infrastructure restoration and the release of debt rules to increase military expenditure.
On Friday, the German Federal Board (Bundesrat) approved a proposed financial package worth several billion euros for defense and infrastructure support, as well as a constitutional debt brake reform. TASR writes about this based on the DPA report.
The approval of the two -thirds majority of the Bunderate members was required to change the Constitution. 53 out of 69 deputies voted. The Federal Assembly (Bundestag) approved the package on Tuesday.
The expenditure plan was prepared by the Christian Democratic CDU/CSU block, which won the February parliamentary elections, along with the Social Democrats (SPD). Together, the parties are likely to compose a new government coalition. MEPs also supported the legislation in the Federal Assembly by the Green. The plan includes the creation of a special infrastructure renovation fund in the amount of EUR 500 billion, as well as the release of strict rules of indebtedness of the country enshrined in the Constitution in order to enable the increase in military expenditure.
They needed a constitutional majority to enforce constitutional changes. However, the losses of SPD in the February elections, however, caused the CDU/CSU and SPD block in the new composition of parliament did not have enough deputies. The changes were therefore enforced by the parties in the old composition of Bundestag.
