Taiwan’s Cabinet on Thursday passed a special budget request to appropriate a NT$380 billion (US$12.5 billion) post-pandemic stimulus package. The package includes NT$6000 (US$200) in cash handouts for all Taiwanese citizens and tax-paying permanent residents.
The special budget request comes after lawmakers on Wednesday passed a special bill to allocate surplus tax revenue in the COVID-19 recovery package. The budget request must now be approved by lawmakers for the funds to be spent by the government.
Premier Chen Chien-jen (陳建仁) says the Cabinet is observing if the request will be immediately approved or face a freeze period. If not immediately approved, he says the earliest the cash payments can reach recipients is in April.
The stimulus measure will also give billions to Taiwan’s National Health Insurance and labor insurance funds, as well as the state-owned electric utility. Money could also be spent on housing subsidies, public transportation, and social welfare.
The government’s stimulus plan was first announced in January, but disagreements between different party caucuses in the legislature delayed its approval.