If they just go in blindly and he loses again, it would be extremely damaging to his and the coalition's position and credibility. The risk outweighs the reward in this case. As such, it would be prudent to hold it off for the time being.
If the second round of voting fails again, then a third round of voting must take place immediately. For that, only a relative majority i.e. candidate with the most votes, is needed to be elected as chancellor. But in this case, the president has the authority to not appoint said person to be chancellor and dissolve the Bundestag instead as an option.
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