KMT bill for providing NT$20,000 handout advances
By Lin Hsin-han and Sam Garcia / Staff reporter, with staff writer
The Legislative Yuan yesterday voted to send a special act proposed by the Chinese Nationalist Party (KMT) to give the public NT$20,000 (US$618) cash handouts directly to a second reading and cross-party negotiations.
The government has already proposed handouts of NT$10,000, funded as part of the general budget for the next fiscal year.
The legislature yesterday voted along party lines 52 to 40 in favor of sending the proposal directly to a second reading, with the Taiwan People’s Party caucus abstaining.
Chinese Nationalist Party (KMT) Legislator Lo Ming-tsai waves NT$20,000 in cash in the legislative chamber in Taipei yesterday.
Photo: Fang Pin-chao, Taipei Times
Under the legislative schedule, the proposal could be referred for general consideration as early as Nov. 17.
Taiwan’s economic growth is significantly exceeding expectations this year, the KMT caucus’ proposal said.
These economic gains were the result of the people’s collective efforts, and the benefits of artificial intelligence (AI) and industrial development should be shared with everyone, it added.
Tax revenue is expected to exceed projections by more than NT$1 trillion this year, KMT caucus whip Fu Kun-chi (傅?萁) said, adding that the cash handouts would return this excess revenue to the public.
Legislators oversee every dollar the government collects, and any surplus should be returned to stimulate domestic demand and revitalize industries beyond the technology sector, Fu said.
With economic growth exceeding 10 percent this year, if tax revenue exceeds projections by NT$2 trillion next year, the government should give NT$40,000 cash handouts, he said, adding that “this logic is very simple.”
The Democratic Progressive Party caucus yesterday reiterated that it would not rule out discussing the proposal if economic growth continues to improve, but said its priority remains distributing NT$10,000 per person to share the benefits of AI-driven growth.
The Legislative Yuan cannot propose increases in government spending, or national development would no longer be substantively determined by the Executive Yuan as constitutionally mandated, it said, adding the issue should not be decided unilaterally by the legislature’s largest party.
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