The bill, backed by Chancellor-in-waiting Friedrich Merz, was approved with 512 votes out of 733|@FriedichMerz|X
The lower house of Germany’s parliament passed a landmark spending package, unlocking hundreds of billions of euros for defense and infrastructure.
The bill, backed by Chancellor-in-waiting Friedrich Merz, was approved with 512 votes out of 733, exceeding the two-thirds majority required for constitutional borrowing changes.
The legislation removes defense spending exceeding 1% of GDP from borrowing restrictions. It also establishes a $546 billion infrastructure fund over 12 years. Proponents say the move will revive Germany’s economy, which has struggled with high energy costs and slow growth.
The upper house, Bundesrat, will vote on the bill on Friday.
If approved, the plan could bolster European defense and economic stability, but critics warn of rising debt risks.