German FinMin pitches $10B tax cuts to ease inflation pain

BERLIN (AP) — Germany’s finance minister says the government plans to make tax cuts worth more than 10 billion euros ($10.2 billion) to benefit broad sections of the population squeezed by high energy costs and inflation. Finance Minister Christian Lindner said Wednesday that about 48 million people in Germany would profit from changes to the tax system that prevent them from being taxed more than their pay increases. The plan was criticized by the Greens, who are part of a three-party governing coalition in Germany. Calculations show that people on higher incomes will see the biggest absolute gains from the proposed tax cuts.