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Bundestag approves higher CO2 price in 2024 and change to parental allowance

The Bundestag has approved the coalition's plan to increase the CO2 price from January, which will lead to higher costs for heating and refueling. On Friday, the MPs of the traffic light parliamentary groups voted in favor of the proposed budget financing law. They also approved the changes to...

,   and  Carmen Simpson
1 min read
Petrol pump at a filling station.aussiedlerbote.de
Petrol pump at a filling station.aussiedlerbote.de

Bundestag approves higher CO2 price in 2024 and change to parental allowance

In order to finance the 2024 budget, the traffic light coalition decided this week to raise the CO2 price more sharply on January 1. Instead of 30 to 40 euros, it will now be increased to 45 euros. This will generate additional revenue of 1.3 billion euros per year for the state.

The income threshold for entitlement to parental allowance will fall to 175,000 euros for couples and 150,000 euros for single parents. Previously, the limits were 300,000 and 250,000 euros respectively. According to the Bundestag decision, up to 14 months of parental leave is still possible. However, both parents can only stay at home together for one month in the first twelve months and both receive parental allowance. There are exceptions for premature and multiple births.

Read also:

  1. The decision by the Bundestag to increase the CO2 price in 2024 and adjust the parental allowance threshold aligns with the policy plans of the current Traffic light coalition.
  2. Although the CO2 price will rise to 45 euros from 2024, under the Traffic light coalition's new policy, eligible families will continue to enjoy up to 14 months of parental leave.
  3. The changes introduced by the Traffic light coalition in the parental allowance system will result in a lower income threshold of 175,000 euros for couples and 150,000 euros for single parents starting in 2024.
  4. The Traffic light coalition, comprising of various political parties, has made it clear that the higher CO2 price will generate substantial revenue, which will help finance the 2024 budget.
  5. The new parental allowance conditions set by the Traffic light coalition, which includes a cap on simultaneous parental leave for both parents, will become effective in 2024, impacting families across Germany.

Source: www.stern.de

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