Germany Clears Path for €46 Billion in Tax Cuts With State Deal

Germany’s ruling coalition reached an agreement with the country’s state premiers on how to share the financial burden from a €46 billion ($53 billion) package of tax breaks intended to boost economic growth.

A working group of the federal and state governments sealed the deal late Monday that will see Berlin absorb costs from corporate tax cuts for municipalities until 2029, using revenue from sales taxes, according to officials familiar with the talks.