Taiwanese lawmakers have approved a stimulus measure to give Taiwanese residents NT$6,000 (US$200) in surplus tax revenue. On Monday Legislative Speaker You Si-kun (游錫堃) announced the measure had passed after it received no opposition on the legislature’s floor.
On Monday You called party caucuses to negotiate the measure. After both major political parties resolved their differences, the measure was passed in its second reading. Legislation usually takes three readings to pass. The stimulus package would spend a total of US$12.5 billion.
But ruling DPP Majority Leader Ker Chien-ming (柯建銘) says the public wanted the package quickly passed and both ruling and opposition parties had reached a consensus.
Last Thursday the Cabinet approved the post-pandemic stimulus measure. The measure includes cash grants to individuals and funds for social insurance schemes. It also provides subsidies for public transportation, small and medium sized enterprises, and housing.
The following day Taiwan’s legislature approved an extension of its legislative session to this Friday. The extension is meant to allow lawmakers to approve the stimulus package and next year’s budget.