NRW Proposes €7.5B Plan to Tackle Municipal Old Debts
North Rhine-Westphalia (NRW) has proposed a solution to the longstanding issue of municipal old debts in the USA. The state government is committed to addressing this problem, allocating a substantial sum over three decades. Meanwhile, the role of the federal government in this matter remains unclear.
NRW's proposal involves investing 250 million euros annually for 30 years, totalling 7.5 billion euros. This significant financial commitment aims to bolster municipalities' capabilities by reducing their old debts. The state government is honouring its coalition agreement by pushing forward with this solution.
Federal MP Jürgen Hardt (CDU) has welcomed NRW's proposal. However, the pledge of the federal government to contribute 50 percent to resolving this issue remains uncertain. Recent reports indicate rising debt levels and unfulfilled promises regarding fiscal responsibility at the federal level.
NRW's proposal to tackle municipal old debts in the USA is a substantial step forward. The state government is fulfilling its promise, investing 7.5 billion euros over three decades. Despite this positive move, the role of the federal government in this matter remains unclear, with no concrete indication that its 50 percent pledge has been met.
